Postal Ballot Notice is attached herewith for Approval of Sale/Disposal of investment.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Envair Electrodyne Ltd is seeking shareholder approval via postal ballot to sell its entire 19.33% stake (1,43,750 equity shares at USD 1.55 per share) in Singapore-based Alliance Asia Pac Pte. Ltd. The buyers are the company's own promoters — Mr. Anil Nagpal and Mr. Harish Kumar Aggarwal — who will purchase the stake equally for an aggregate consideration of about Rs. 2.12 Crores. Alliance Asia Pac is an intermediate holding entity for a soap manufacturing plant in Indonesia (PT Alliance Consumer Products Indonesia), whose major customer is Unilever PLC. The company says the divestment is aimed at optimising its investment portfolio, unlocking value, improving liquidity, and refocusing on its core business. The e-voting window runs from June 4, 2026 to July 3, 2026.
This is a related-party transaction with the company's promoters, so shareholders should weigh whether the valuation (USD 1.55/share) is fair. The deal will bring in roughly Rs. 2.12 Cr of cash, planned for business expansion, but it also signals an exit from the overseas soap-manufacturing venture in Indonesia, sharpening the company's focus on its domestic core business.