Sale29 Aug 2025, 02:01 am
Majestic Auto Ltd. Sells Entire 80% Stake in Emirates Technologies for INR 196 Crores
AI Summary
Majestic Auto Ltd. has announced the sale of its entire 80% shareholding in Emirates Technologies Private Limited (ETPL) for a total consideration of INR 196,00,00,000. The transaction involves Rhombus Infrazone Private Limited, Mr. Gurpreet Singh Sobti, Mr. Harsimhar Deep Singh, Mr. Naresh Arora, Mr. Chirag Arora, and Equilateral Techpark Private Limited as buyers. The sale is outside the scheme of arrangement and has received shareholder approval. The company has already received INR 195,39,85,500, with INR 54,55,500 remaining pending.
Key Highlights
- Majestic Auto Ltd. sells its entire 80% stake in Emirates Technologies Private Limited for INR 196 crores.
- The transaction involves six 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.
- The sale is outside the scheme of arrangement and has received shareholder approval.
- The company has already received INR 195,39,85,500, with INR 54,55,500 remaining pending.
- Buyers do not belong to the promoter/promoter group/group companies.