Divestment14 May 2026, 07:21 pm
Asit C Mehta: Sells Mutual Fund Business for ₹6.59 Cr
AI Summary
Asit C Mehta Financial Services Ltd's board approved the sale of its material subsidiary ACMIIL's Mutual Fund Distribution business to Wealth Company Private Limited for ₹6.59 crore via a slump sale. The sale, expected by July 31, 2026, aims to improve ACMIIL's net worth and strategic focus. The Mutual Fund Distribution Business contributed ₹2.42 Crores (3.39%) to ACMIIL’s turnover in FY25. The transaction is considered a related party transaction but is at arm's length.
Key Highlights
- Asit C Mehta to sell ACMIIL's Mutual Fund Distribution business.
- Sale consideration is ₹6.59 crore via slump sale to Wealth Company Private Limited.
- Transaction expected to be completed by July 31, 2026.
- The sale aims to improve net worth and strategic focus of ACMIIL.
- Transaction falls under related party transactions and is at arm’s length.
Price Impact
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