GeeCee Ventures Sells 15% Stake in Subsidiary for ₹1.53 Cr

GeeCee Ventures Limited has approved the disinvestment of a 15% stake (6,300 shares) in its non-material subsidiary, Geecee Business Private Limited (GCBPL), for an aggregate consideration of ₹1,53,72,000. The sale involves 3,150 shares each to New Age Energy India Private Limited (NAEIPL) and Singularity Holdings Limited (SHL), both identified as related parties and members of the promoter group. This transaction, deemed an arm's length deal based on an independent valuation, is part of the company's strategy for portfolio optimization and long-term value creation. Upon completion, GCBPL will transition from a subsidiary to an associate company, with GeeCee Ventures retaining a 48% stake. The deal was approved by the Audit Committee and the Board of Directors.