Board Approval Details
The Board of Directors of Mach Travel Solutions Limited (formerly known as Mach Conferences and Events Limited) at its meeting held on 1st August, 2026, approved the proposal for divestment of 60% equity stake/investment and 100% Redeemable Preference Share held in its subsidiary, Travexel Events and Travel Private Limited. The meeting commenced at 1:00 pm and concluded at 1:34 pm.
Divestment Details
The divestment comprises:
- 15,000 (Fifteen thousand) equity shares
- 485,000 (Four Lakh Eighty Five thousand) Redeemable Preference Shares of face value ₹10 each
Post-transaction, Travexel will cease to be a subsidiary of the Company.
Financial Impact Assessment
Turnover Contribution: Travexel contributed ₹13,52,20,363 to the consolidated turnover of the Company in FY 25-26.
Net Worth Position: Travexel's net worth as on March 31, 2026 was ₹(28,44,442) (negative).
Transaction Timeline
Agreement Date: 01.08.2026
Expected Completion Date: On or before 29.09.2026, subject to statutory requirements to be fulfilled by the buyer.
Consideration Details
Total consideration received:
- Equity shares: ₹1,50,000 (One Lakh Fifty thousand only)
- Preference shares: ₹48,50,000 (Forty-Eight Lakh fifty thousand only)
- Total consideration: ₹50,00,000
Buyer Information
Buyer: Mr. Chhatrapal Singh Yadav
The transaction does not fall within Related Party Transaction category.