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