Termination of Share Purchase Agreement (SPA 1) dated 06.02.2025 entered into between Inimitable Capital Finance Limited and Swapnil Padiyar & termination of Share Purchase Agreement (SPA ....
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On the reaction day the stock moved 0.9 pts more than Nifty Microcap 250 and 0.2 pts more than its Diversified Commercial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Frontier Capital's board, at its meeting on 13 February 2026, approved the termination of two Share Purchase Agreements (SPA 1 and SPA 2) originally signed on 6 February 2025, which would have resulted in a change of control through the sale of shares by Inimitable Capital Finance Private Limited and Mr. Anirudh Bhuwalka to Mr. Swapnil Madiyar. The deals were called off because the Conditions Precedent were not completed by the agreed long-stop date of 30 June 2025, prompting the sellers to issue termination notices. The company confirmed that this cancellation will not lead to any change in the control or management of the company. The board also adopted unaudited financial results for Q3 and 9M FY26, reporting total income of Rs 14.25 lakhs and profit before tax of Rs 1.06 lakhs for the quarter, compared to Rs 19.34 lakhs and Rs 12.61 lakhs in the same quarter last year. The company has no subsidiaries or joint ventures and reported zero outstanding debt or defaults.
The failed takeover removes near-term uncertainty over a change in control and means existing promoters/management continue at the helm. Weak quarterly earnings (profit dropping sharply year-on-year) and the dead deal may keep investor sentiment subdued in the short term.