Himadri Subsidiary Sells 34% Stake in Step-down Subsidiary

Himadri Speciality Chemical Ltd's subsidiary, Trancemarine and Confreight Logistics Private Limited, has entered into an agreement to divest 34% of its stake in its step-down subsidiary, Sturdy Niketan Private Limited. Following the sale, Trancemarine will retain a 65% holding in Sturdy, which will continue to be a subsidiary of Trancemarine and a step-down subsidiary of Himadri. The transaction does not involve a material subsidiary and is expected to be completed within 10 days. The buyers are not related to the company's promoters or group entities.