Cambridge Technology Enterprises Limited wish to inform your esteemed organization that the divestment of 100% shareholding in CTE Technology Solutions Private Limited (Formerly known as CTE Web Apps Private Limited), a wholly owned subsidiary of the Company, as approved by the Board of Directors, at its meeting held on March 30, 2026, has been completed.
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Cambridge Technology Enterprises Limited has completed the divestment of its 100% equity shareholding in CTE Technology Solutions Private Limited (formerly CTE Web Apps Private Limited). The Board had approved this disinvestment on March 30, 2026. The shares were transferred to Bizserve Technology Investments Pte Limited on May 21, 2026. Following the completion, CTE Technology Solutions Private Limited has ceased to be a wholly owned subsidiary of the Company. Financial terms of the transaction were not disclosed in this filing.
Shareholders should note that the company has exited a wholly owned subsidiary. The impact on revenues and profitability depends on the subsidiary's contribution to the parent company's financials, which has not been disclosed.