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

GeeCee Ventures Limited has approved the disinvestment of a 15% stake in its non-material subsidiary, Geecee Business Private Limited (GCBPL), for an aggregate consideration of ₹1,53,72,000. The sale involves 6,300 equity shares, with 3,150 shares sold to New Age Energy India Private Limited and the remaining 3,150 to Singularity Holdings Limited. These buyers are part of the promoter group. Following the transaction, GCBPL will transition from a subsidiary to an associate company, with GeeCee Ventures retaining a 48% stake. The divestment aligns with the company's strategic objectives of portfolio optimization and long-term value creation. The transaction, deemed a related party transaction, was approved by the Audit Committee and the Board of Directors and is based on an independent valuation report.