Divestment29 Sept 2026, 10:10 pm
Majestic Auto Completes SHPL Stake Sale for ₹105.4 Cr
AI Summary
Majestic Auto Ltd has completed the sale of its entire stake in Sharan Hospitality Private Limited (SHPL) to NovumLake Property Fund and 360 ONE Real Assets Advantage Fund for an aggregate consideration of ₹1,05,42,80,536. The transaction includes the transfer of Equity Shares, Non-Convertible Debentures, and Bonus Redeemable Preference Shares. Additionally, SHPL has repaid an Inter-Corporate Deposit of ₹29,28,00,000 to Majestic Auto. This divestment results in SHPL ceasing to be a wholly owned subsidiary and generates a pre-tax gain of approximately ₹29,28,00,000 for Majestic Auto. The entire transaction, as envisaged under the Resolution Plan, is now complete.
Key Highlights
- Majestic Auto sold its entire stake in SHPL for ₹105.4 Cr.
- SHPL repaid an ICD of ₹29.28 Cr to Majestic Auto.
- Transaction results in a pre-tax gain of ₹29.28 Cr.
- SHPL is no longer a wholly owned subsidiary.
- Deal completed as per Resolution Plan and purchase agreements.
Price Impact
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