Main Disclosure – Disinvestment Details

Target Entity: Freshbus Private Limited

Percentage Stake Disinvested: 17.39% stake reduction from 25.66% to 8.27% of the paid-up share capital.

Post-Transaction Holding: 8.27% resulting holding. Freshbus Private Limited ceases to be an associate company of Le Travenues Technology Limited.

Counterparty/Buyer: Twelve Stone LLP (LLPIN: ACV-1977). The buyer's Designated Partners are Mr. Sudhakar Reddy Chirra (Founder and Managing Director of Freshbus Private Limited) and Ms. Sasya Chirra.

Mode of Consideration: Cash consideration.

Valuation or Price Basis: Transaction executed at a price of ₹7,911 per Compulsorily Convertible Preference Share.

Transaction Size: Total cash consideration of ₹365,994,504 for the sale of 46,264 Compulsorily Convertible Preference Shares.

Rationale for Disinvestment: The disclosure does not state a specific strategic rationale beyond the transaction itself.

Impact on the Company:

  • Freshbus Private Limited will cease to be classified as an associate company.
  • The company's investment in Freshbus was valued at ₹18.87 crore in the consolidated financial statements as of March 31, 2026, constituting 0.96% of net worth.
  • For the last financial year (FY2026), Freshbus contributed a share of loss of ₹11.22 crore to the company's audited consolidated financial statements.

Business Profile of Target Entity: The document does not disclose specific operational details, sector, product, plant capacity, or year-wise turnover and profitability beyond the consolidated financial impact.

Related Party Status: No. The transaction does not fall within the purview of related party transactions. Le Travenues Technology Limited is described as a professionally managed company with no identifiable promoter or promoter group under SEBI regulations.

Approvals Required: The document confirms the transaction is not a related party transaction and does not require compliance with Regulation 37A of LODR Regulations. No other specific approvals are mentioned.

Indicative Timeline:

  • Agreement Date: August 13, 2026
  • Expected Completion Date: On or before August 30, 2026

Other Updates (If Present in the Same Document)

No other disclosures are present in the document.