Cessation of Associate Company with effect from May 05, 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Forbes & Company informed BSE that its associate company, Nuevo Consultancy Services Pvt Ltd, has sold its entire stake in Dhan Gaming Solution (India) Pvt Ltd to two promoter group entities — Shapoorji Pallonji Homes Pvt Ltd and Shapoorji Pallonji Estate Developers Pvt Ltd. The share purchase agreement was signed on May 02, 2025, and the transfer was effective May 05, 2025. The total consideration was just Rs. 1 lakh, and Forbes itself was not a party to the transaction. During FY25, Dhan Gaming Solution had nil revenue and a net worth of only Rs. 0.56 lakh, making its financial contribution to Forbes negligible.
The company has explicitly stated this transaction has no material impact on Forbes & Company. The associate being divested had zero revenue and a near-zero net worth, so shareholders should not expect any meaningful effect on financials or stock price.