Main Disclosure – Disinvestment Details

Target Entity: Veicoli Srl, Italy

Percentage Stake Disinvested: 100% of the shareholding held by Endurance Overseas SpA, Italy (EOSpA), a wholly-owned subsidiary of Endurance Technologies Limited.

Post-Transaction Holding: 0%. Upon completion, Veicoli Srl will cease to be a subsidiary of EOSpA and, consequently, of Endurance Technologies Limited.

Counterparty/Buyer: Banyan Software UK Limited, a body corporate registered with the Companies House in the United Kingdom.

Mode of Consideration: Cash. The consideration is subject to adjustments for cash and debt balances and comprises three parts:

  • An upfront fixed payment of €2.2 million.
  • A deferred fixed payment of €0.3 million.
  • An earn-out consideration linked to the financial results of Veicoli Srl for the first three years after the completion of the sale. This earn-out is subject to a cap of €5.0 million.

Valuation or Price Basis: Not explicitly disclosed in the provided data.

Rationale for Disinvestment: The divestment is due to the Endurance Group's strategic focus on allocating resources towards the continued growth and development of its core auto components business.

Impact on the Company: The financial impact on the consolidated entity is minimal. For the last financial year (2025-26):

  • The total income of Veicoli Srl was Rs. 32.58 crore, representing 0.22% of the Company's consolidated total income.
  • The net worth of Veicoli Srl as of 31st March 2026 was Rs. 3.15 crore, representing 0.48% of the Company's consolidated net worth.

Business Profile of Target Entity: Veicoli Srl is engaged in the business of providing software platforms to companies operating in the fleet management sector.

Related Party Status: No. The buyer, Banyan Software UK Limited, does not belong to the promoter/promoter group/group companies of Endurance Technologies Limited. The transaction is not a related party transaction.

Approvals Required: The transaction is subject to receipt of requisite regulatory approvals.

Indicative Timeline:

  • The Share Purchase Agreement was entered into on 23rd June, 2026.
  • The expected date of completion of the sale is 1st July, 2026.

Other Updates

No other disclosures are present in the document.