Announced Mon, 24 Aug · 23:21 IST
Majestic Auto implements SHPL resolution plan, eyes Rs 29.28 cr gain
MAJESAUT · price
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Price reaction · full curve 14 horizons · vs prior close
-1.7%1-day move
₹362.60
prior close
₹369.90
base price
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AI summary
Majestic Auto has begun implementing the Supreme Court-approved Resolution Plan for Sharan Hospitality Pvt Ltd (SHPL). Total plan value is Rs 105.43 crore. In phase 1, SHPL allotted 5 lakh equity shares and Rs 35 crore NCDs to Majestic Auto, making SHPL its wholly-owned subsidiary. These securities will be sold to NovumLake Property Fund and 360 ONE Real Assets Advantage Fund for Rs 105.43 crore. Expected pre-tax gain is about Rs 29.28 crore. Transaction to complete by Oct 31, 2026.
Likely market impact
One-time pre-tax gain of about Rs 29.28 crore expected; positive short-term impact on earnings upon completion by Oct 2026.