Type of Deal: Investment in wholly-owned subsidiary through right issue of preference shares
Stake/Capacity: 100% equity share capital and preference share capital, voting power, and beneficial interest maintained. The company acquired 10,00,000 Non-Convertible Non-Cumulative Redeemable Preference Shares representing 100% of the preference share capital.
Deal Value: ₹1,00,00,000/- (Rupees One Crore) for 10,00,000 preference shares at ₹10 per share face value
Funding Source: Cash consideration through the right issue
Financial Impact:
Lakshya Trustee Private Limited reported PAT of (₹9,22,700) for FY 2025-26
Net Worth: ₹77,300
Turnover: ₹0 for FY 2025-26
The investment increases the subsidiary's capital base for operational requirements
Timeline: Acquisition already completed as of the announcement date
Strategic Rationale:
To meet administration and other general business requirements
To support operational requirements for carrying out activities as a Trustee of Asset Management Company
The investment maintains the subsidiary's status as a wholly-owned subsidiary
Approval Status:
Approved by the Audit Committee and Board of Directors
Done in accordance with Companies Act, 2013 and SEBI Listing Regulations
Arm's length transaction
Related Party Transaction: Yes, Lakshya Trustee Private Limited is a wholly-owned subsidiary and related party of Wealth First Portfolio Managers Limited. Promoters/Promoter Group are interested to the extent of their shareholding/beneficial interest in the company.
Subsidiary Background:
Industry: Trustee Company of Asset Management Company
Authorized Share Capital: ₹1,10,00,000/- divided into 1,00,000 Equity Shares of ₹10/- each and 10,00,000 Preference Shares of ₹10/- each
Paid-up Share Capital: ₹1,10,00,000/- divided into 1,00,000 Equity Shares of ₹10/- each and 10,00,000 Preference Shares of ₹10/- each
Country: India
Historical Turnover: FY 2025-26: ₹0; FY 2024-25: Not Applicable; FY 2023-24: Not Applicable
