1) Approval for dispoal of Investment in Associate Company 2) Convening of Extra - Ordinary -General meeting 3) Appointment of Scrutinizer
Awaiting price reaction for this filing.
The board of Photon Capital Advisors approved selling its entire 23,96,000 equity share stake in associate company Nicosa Consulting Private Limited. The associate contributed NIL to revenue but made up 38.36% of the company's net worth, making this a material divestment. The buyers are the company's own promoters — Sobharani Nandury (Whole-Time Director) and her daughter Vennela Nandury — making this a related party transaction. The sale price will be determined by a registered valuer, and the deal is expected to close within three months of shareholder approval. An EGM has been scheduled for December 5, 2025 to seek member approval, with the e-voting cut-off date set as November 28, 2025.
Since the buyers are the promoters themselves, retail shareholders should closely review the independent valuer's valuation to ensure the deal is fair. Approval of this transaction will significantly reduce the company's asset base, though the company says proceeds will be used for long-term objectives.