Acquisitions5 Sept 2025, 02:02 am
Majestic Auto Ltd. Completes Sale of Entire 80% Shareholding in Emirates Technologies Private Limited for INR 196 Crore
AI Summary
Majestic Auto Ltd. has completed the sale of its entire 80% shareholding in Emirates Technologies Private Limited (ETPL), a subsidiary of the Company, for a total consideration of INR 196,00,00,000 (Rupees One Hundred Ninety-Six Crore only). The final tranche of the remaining consideration amounting to INR 54,55,500 was received on September 04, 2025, thereby completing the total consideration. The sale has resulted in ETPL ceasing to be a subsidiary of Majestic Auto Limited.
Key Highlights
- Completion of the sale of Majestic Auto Ltd.'s entire 80% shareholding in Emirates Technologies Private Limited
- Total consideration of INR 196,00,00,000 for the sale
- Receipt of the final tranche of INR 54,55,500 on September 04, 2025
- Emirates Technologies Private Limited ceasing to be a subsidiary of Majestic Auto Limited
- Involvement of various buyers including Rhombus Infrazone Private Limited, Mr. Gurpreet Singh Sobti, Mr. Harsimhar Deep Singh, Mr. Naresh Arora, Mr. Chirag Arora, and Equilateral Techpark Private Limited