Main Disclosure – Disinvestment Details
Target Entity: Pivot Path
Percentage Stake Disinvested: Majority stake (specific percentage not disclosed in the document)
Post-Transaction Holding: The company no longer holds majority stake. Pivot Path has ceased to be a Wholly Owned Subsidiary and is now classified as an Associate Company.
Counterparty/Buyer: Consortium led by Ascent Capital, together with co-investor Vintage Classic
Mode of Consideration: Cash
Valuation or Price Basis: Aggregate consideration of approximately ₹1,000 million (₹1,000 crores)
Payment Structure: ₹750 million received upon completion, with balance consideration of ₹250 million payable on the first anniversary of the closing date
Transaction Completion Date: Effective July 1, 2026
Rationale for Disinvestment: Unlocking value in Pivot Path
Impact on the Company: Pivot Path has ceased to be a Wholly Owned Subsidiary and shall henceforth be classified as an Associate Company with effect from July 1, 2026
Related Party Status: Not mentioned in the document
Approvals Required: The transaction was completed under SEBI Listing Regulations (Regulation 30 specifically referenced)
Regulatory Reference: Disclosure made under Regulation 30 of SEBI Listing Regulations
Press Release Date: Original announcement was made on June 27, 2026
Other Updates
No other disclosures are present in the document.