Main Disclosure – Disinvestment Details

Target Entity: DBS Lifestyle India Private Limited

Percentage Stake Disinvested: 49% (full exit from previous 49% holding)

Post-Transaction Holding: 0% (complete exit)

Counterparty/Buyer: Mr. Bhawnish Suri, Mrs. Divya Suri and DBS Lifestyle India Private Limited. Mrs. Ramma Sahni is named as Buyer Nominee. The transferees are not members of the Promoter and/or Promoter Group of the Company.

Mode of Consideration: Cash consideration of ₹9,17,48,425.00 (approximately USD 9.59 lakh)

Valuation or Price Basis: Arm's length transaction as confirmed in the disclosure

Transaction Size: ₹9.17 crore (₹9,17,48,425.00)

Rationale for Disinvestment: The divestment aligns with the Company's strategy of rationalizing its portfolio of loss-making new verticals. The specific objectives include reducing losses, improving profitability, and allocating capital and management bandwidth towards businesses with stronger potential for sustainable and profitable growth. The Company had previously identified this divestment as an action towards curtailing losses from new verticals in earlier investor communications.

Impact on the Company: The transaction is not expected to have any material impact on the financial position, business operations or financial performance of the Company. Upon completion, Suri Overseas Private Limited and Pangram Brands Global Private Limited (subsidiaries of DBS Lifestyle) will also cease to be associate entities of the Company.

Business Profile of Target Entity:

  • Financial Contribution (Last Financial Year):
  • Turnover: ₹1,803.90 lakhs (0.14% of consolidated turnover)
  • Net Worth: Negative ₹138.81 lakhs (-0.07% of consolidated net worth)
  • Current Net Worth: ₹4.10 lakhs (nil percentage of consolidated net worth)

Related Party Status: Yes, but transaction conducted at arm's length

Approvals Required: Subject to fulfilment of terms and conditions set out in the Share Purchase Agreement

Indicative Timeline: Expected completion by October 31, 2026, or such other date as may be mutually agreed between parties (subject to fulfilment of conditions precedent)

Other Updates

No other disclosures are present in the document.