Outcome of Meeting of Board of Directors in accordance with Regulation 30 Obligations of the SEBI (Listing and Disclosure Requirements) Regulations, 2015.
Price
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Awaiting price reaction for this filing.
Dolphin Kitchen Utensils and Appliances has finalised and executed the sale of its entire 100% stake (97,400 equity shares) in step-down subsidiary Bhagat Marketing Pvt Ltd (BMPL). BMPL was a material subsidiary contributing Rs. 3,019.88 Lakh or 46.35% of the company's consolidated turnover and Rs. 2,546.68 Lakh (11.63%) of consolidated net worth as of March 2025. Total consideration is Rs. 2.96 Crore, and one of the buyers is the company's Chairman and Managing Director, Nipun Anantlal Bhagat, who as part of the promoter group will acquire 80% of BMPL, making this a related party transaction conducted at arm's length. The sale is expected to be completed by 31 December 2025 subject to regulatory approvals.
This is a sizeable divestment — nearly half of consolidated revenue is being sold — but the price looks modest relative to the subsidiary's net worth, which could raise questions for minority shareholders. Because the promoter is the buyer, this is a related party transaction and shareholder scrutiny on fairness is likely.