This is to inform that the Board of Directors of the Company at its meeting held today i.e. May 14, 2026 inter alia considered and approved sale of Mutual Fund Distribution business of ....
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Asit C Mehta Financial Services' Board has approved the sale of Mutual Fund Distribution business of its material subsidiary Asit C. Mehta Investment Intermediates Limited (ACMIIL) to Wealth Company Private Limited. The slump sale will fetch ₹6.59 crore cash, expected to complete by July 31, 2026. The MF Distribution business contributed ₹2.42 crore (3.39%) to ACMIIL's total turnover of ₹71.45 crore for FY2025. The company states this transaction is aimed to improve net worth of the subsidiary, reduce exposure to below-breakeven operations, and strengthen focus on core capital markets business (stock broking, PMS, Research Analyst, Depository Participant). The transaction qualifies as a related party transaction but is conducted at arm's length.
The sale of this small, loss-making business segment for ₹6.59 crore will have minimal impact on the parent's financials but signals strategic focus on profitable core operations. No change in shareholding pattern is expected.