Advait Energy Transitions Limited has informed the Exchange regarding 'Intimation under Regulation 30 of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015 Winding up of Wholly Owned Subsidiary named Advait Energy Holdings AS - Norway based'.
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Advait Energy Transitions Limited has wound up and liquidated its wholly owned Norway-based subsidiary, Advait Energy Holdings AS, effective March 31, 2026, through voluntary winding up. The subsidiary contributed 0% to the company's turnover in FY25 and had a negative net worth of around INR 134.77 lakhs (0.67% of company net worth), indicating it was essentially a dormant or non-operational entity. No sale consideration was involved as it was a voluntary liquidation, and the company will only receive a nominal NOK 7,059 (subject to bank charges) after closure of the subsidiary's bank accounts. The transaction is not a related party transaction and not part of any scheme of arrangement.
Minimal financial impact for shareholders — the subsidiary was non-operational with zero revenue and negative net worth, so this is a routine corporate cleanup. Investors should not expect any material change in the company's business or valuation from this development.