Main Disclosure – Disinvestment Details
Target Entity: TSA Process Equipments Private Limited (TSA)
Percentage Stake Disinvested: The disclosure pertains to the sale of the company's entire remaining shareholding in TSA, consisting of 223,440 equity shares. This represents the second and final tranche of a previously agreed disinvestment.
Counterparty/Buyer: Thermax Limited
Mode of Consideration: Cash. The revised consideration for the transaction is ₹13,98,60,000 (Rupees Thirteen Crore Ninety-Eight Lakh Sixty Thousand only).
Valuation or Price Basis: The disclosure states that the Settlement Agreement was executed to record and give effect to mutually agreed revised terms and conditions, including the revised consideration. A specific valuation methodology is not detailed.
Rationale for Disinvestment: The underlying objective is the complete sale of the company's remaining shareholding in TSA to Thermax Limited. The execution of the Settlement Agreement is intended to facilitate the completion of this final tranche under revised terms.
Related Party Status: No. Thermax Limited is confirmed not to belong to the Promoter/ promoter group/group companies of Fabtech. The transaction is not a related party transaction.
Approvals Required: The transaction was initiated pursuant to the approval of the company's Board of Directors dated February 5, 2024. The disclosure under Regulation 30 of SEBI LODR is itself a regulatory compliance requirement.
Indicative Timeline:
- Date of Agreement Execution: September 29, 2026
- Expected Date of Completion: October 5, 2026
Business Profile of Target Entity:
The annexure states that the turnover/revenue/income and net worth contributed by TSA during the last financial year was 'NIL'. No further operational or financial details (sector, capacity, profitability) are provided in the disclosed text.
Other Updates
No other disclosures, such as board meeting decisions, management changes, or fundraising, are present in the document.