Joint Venture14 Apr 2026, 06:01 pm
Kilburn Engineering forms JV, sells 40% KEEPL stake for "₹4,00,000"
AI Summary
Kilburn Engineering Ltd has entered into a Joint Venture Agreement dated April 14, 2026, with East End Technologies Private Limited (EETPL), Kilburn East End Private Limited (KEEPL), and Mr. Sandip Patnaik. This agreement formalizes the previously intimated term sheet, under which Kilburn Engineering will sell 40% of the equity share capital of KEEPL to EETPL for ₹4,00,000 (40,000 equity shares of ₹10 each). KEEPL, initially a wholly-owned subsidiary, will cease to be so but will continue as a subsidiary of Kilburn Engineering. The actual transfer of shares is expected to be completed within 60 days from the agreement date. EETPL is an independent third party and the transaction is not a related party transaction.
Key Highlights
- Kilburn Engineering entered a Joint Venture Agreement with EETPL.
- Company sold 40% equity stake in its subsidiary KEEPL to EETPL.
- Consideration for the 40% stake sale is ₹4,00,000.
- KEEPL transitions from a wholly-owned to a regular subsidiary.
- Share transfer is expected to be completed within 60 days.