Sells 15% in subsidiary GCBPL to promoter group for Rs. 1.54 crore
GEECEE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
GeeCee Ventures will sell 6,300 equity shares (15%) of subsidiary Geecee Business Pvt Ltd (GCBPL) to two promoter group firms — New Age Energy India Pvt Ltd and Singularity Holdings Ltd (3,150 shares each) — for about Rs. 1.54 crore total. Post-sale, holding in GCBPL drops to 48%, so it ceases to be a subsidiary and becomes an associate. GCBPL is non-material, contributing only 0.47% of income and 0.69% of net worth in FY25-26. Deal is at arm's length, based on independent valuation, and expected to close within a week.
Minor cash inflow of about Rs. 1.54 crore. GCBPL shifts from subsidiary to associate, but limited financial impact given its tiny contribution to the company.