Amber Enterprises India Limited has informed the Exchange regarding execution of an Agreement by Sidwal Refrigeration Industries Private Limited, a material subsidiary of the Company with J P Fincap Private Limited on 30th March 2026, for sale of all the equity shares i.e. 10,97,98,850, held by Sidwal in Shivaliks Mercantile Limited
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Amber Enterprises' material subsidiary, Sidwal Refrigeration Industries, has sold its entire 49% stake (10,97,98,850 equity shares) in joint venture Shivaliks Mercantile Limited to J P Fincap Private Limited at a nominal price of about Rs. 1.10 lakh. The transaction was completed on 30th March 2026, and Shivaliks will no longer be a JV of Sidwal. Notably, Sidwal had already written off its full investment in Shivaliks in the quarter ended 31st December 2025, treating it as an exception item. Shivaliks contributed a loss of about Rs. 25.6 crore to the group's consolidated financials in FY25, making it a loss-making, non-core holding.
Minimal financial impact for shareholders since the investment was already fully written off. This is a cleanup exercise to formally exit a loss-making JV, removing drag from the consolidated financials going forward. Likely a neutral-to-slightly-positive signal as it simplifies the group structure and eliminates a loss-making associate.