Main Disclosure – Disinvestment Details
Target Entity: SkyServe Inc ('Skyserve')
Percentage Stake Disinvested: Complete disinvestment of entire 5.55% stake held through Redstart Labs (India) Ltd
Post-Transaction Holding: 0% holding post-disinvestment (complete exit)
Counterparty/Buyer: SkyServe Inc (repurchase by the investee company itself). The buyer is not related to promoter/promoter group/group companies.
Mode of Consideration: Cash repurchase through Repurchase Agreement
Valuation or Price Basis: Not explicitly disclosed in the document
Transaction Size: Aggregate consideration of about USD 55.55 for 555,556 Series Pre-Seed Preferred Stock
Rationale for Disinvestment: Not explicitly stated in the document
Impact on the Company:
- Complete disinvestment from SkyServe Inc
- SkyServe's financial statements were not required to be consolidated with the financial statements of the Company
- SkyServe did not contribute to the consolidated financial results of the Company
- No material financial impact on consolidation
Business Profile of Target Entity:
- SkyServe was incorporated on April 5, 2021
- Provides Insights-as-a-Service platform enabling satellite-based edge computed insights for core industries and solution providers
- Uses multispectral imagery fed to models deployed on the edge to facilitate timely predictions
- Financial contribution: Not applicable as financials were not consolidated
Related Party Status: No. SkyServe is not a Related Party of the Company. Transaction is not a related party transaction.
Approvals Required: Board of Directors of Redstart Labs (India) Ltd approved the tender of securities on August 27, 2026
Indicative Timeline:
- Repurchase Agreement to be entered into within 1 week from approval (by approximately September 3, 2026)
- Expected completion of repurchase by September 26, 2026
Other Updates (If Present in the Same Document)
No other disclosures are present in the document.