Physicswallah Ltd Sells 10% Stake in Wholly Owned Subsidiary Bharat Innovations Global

Physicswallah Limited has sold 10% of its equity stake in Bharat Innovations Global Private Limited, a wholly-owned subsidiary. This has resulted in Bharat Innovations Global Private Limited ceasing to be a wholly-owned subsidiary, but Physicswallah Ltd still holds 90% of the equity share capital, making Bharat Innovations Global a subsidiary. The sale was made to NSDC International Limited, a company registered under the Companies Act, 2013, and the consideration was received in the form of the brand name and goodwill of the acquirer, along with other specified terms in the agreement. The sale was not a related party transaction and was not part of a Scheme of Arrangement.