Centrum Capital to Sell Merchant Banking Division to Subsidiary Centrum Broking Limited for Rs. 1,79,00,000

Centrum Capital Ltd. has received approval from its Board of Directors to sell its Merchant Banking Division to its subsidiary, Centrum Broking Limited, for a consideration of Rs. 1,79,00,000. The sale is expected to be completed in the next 2-3 months, subject to regulatory approvals. The Merchant Banking Division contributed 0.32% to the consolidated turnover of the Company for FY 2024-25. The transaction is being undertaken at arm's length and does not involve any related parties. The sale is not part of a Scheme of Arrangement. Centrum Broking Limited is a registered trading member with BSE Limited and the National Stock Exchange of India Limited, and provides broking services to its clients. The rationale for the slump sale is the requirement for Centrum Financial Services Limited to convert into a Non-Operative Financial Holding Company and directly hold investments in regulated financial entities in the Group.