Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Sale of Subsidiary Company
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Embassy Developments Limited has completed the sale of 100% equity share capital of its wholly owned subsidiary, Sepset Real Estate Limited, to Pen India Private Limited. The transaction was executed under a Share Purchase Agreement that was initially announced on April 12, 2026. All closing conditions and precedents stipulated under the SPA were satisfactorily fulfilled, leading to the transfer being completed on April 16, 2026. With this completion, Sepset Real Estate has ceased to be a subsidiary of Embassy Developments effective that date. The company had already made the requisite disclosure under Regulation 30 of SEBI LODR Regulations earlier.
The sale reduces Embassy Developments' subsidiary portfolio and may provide liquidity or reduce debt. However, shareholders should note this represents a reduction in the company's overall business scale as Sepset is deconsolidated.