Outcome of the Board Meeting held on November 17, 2025 Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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The board approved selling the company's entire 100% stake in its wholly owned subsidiary Bhagat Marketing Private Limited (BMPL) to two buyers: promoter Nipun Anantlal Bhagat (80%) and Bhaumik Dipak Bhagat (20%). BMPL was a significant contributor, accounting for 46.35% of consolidated turnover (Rs. 3,019.88 Lakh) and 11.63% of consolidated net worth (Rs. 2,546.68 Lakh) as of March 31, 2025. Total consideration is Rs. 2.96 crore (Rs. 2,96,24,000), which is far below the subsidiary's net worth of ~Rs. 25.47 crore. The deal is classified as a related-party transaction done at arm's length, subject to shareholder approval at an EGM scheduled for December 12, 2025, with expected completion by December 31, 2025.
Selling a subsidiary that contributes nearly half of consolidated turnover is a major restructuring move and could materially change the consolidated revenue profile going forward. The steep gap between the Rs. 2.96 crore consideration and BMPL's ~Rs. 25.47 crore net worth, combined with the buyer being the promoter, may raise valuation questions among minority shareholders ahead of the EGM vote.