Summary of Key Information:
Reporting Period (Quarter/Year): Not Applicable
Nature of Filing / Announcement: Disclosure under Regulation 30 of SEBI LODR Regulations - Sale of partial stake in subsidiary
Corporate Actions:
The Board of Directors approved the disinvestment of a partial stake in Geecee Business Private Limited (GCBPL), a non-material subsidiary. Specifically, the company will sell 6,300 fully paid-up Equity Shares (representing 15% of GCBPL) for an aggregate consideration of ₹1,53,72,000 (Rupees One Crore Fifty Three Lakhs Seventy Two Thousand only).
The sale is structured as follows:
- 3,150 shares to New Age Energy India Private Limited (NAEIPL) for ₹76,86,000
- 3,150 shares to Singularity Holdings Limited (SHL) for ₹76,86,000
Post-transaction, Geecee Ventures' holding in GCBPL will reduce from 63% to 48% (20,160 shares), causing GCBPL to cease being a subsidiary and become an associate company.
Financial Details of Divested Unit:
The annexure provides the following financial contributions from GCBPL for the last financial year:
- Income Contribution: ₹35,59,348 (0.47% of total)
- Net Worth Contribution: ₹4,71,38,413 (0.69% of total)
Transaction Timeline:
- Share Purchase Agreement (SPA) to be executed on June 26, 2026
- Expected completion within one week from June 26, 2026
- Consideration receivable upon share transfer, subject to agreed deductions/adjustments under the SPA
Strategic Rationale:
The transaction is part of the company's strategic objectives of portfolio optimization, enhancing operational focus, and pursuing long-term value creation.
Additional Information:
The disclosure is made pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026.