Pursuant to Regulation of SEBI ( Listing Obligations and Disclosure Requirements) Regulations, 2025, we wish to inform that : 1. Intimation from Material Subsidiary proposing to initiate ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
GKB Ophthalmics has informed that its material subsidiary, GSV Ophthalmics Private Limited, has proposed to undergo voluntary liquidation under Section 59 of the Insolvency and Bankruptcy Code, 2016. GSV has had no business operations since inception and earns only passive income from interest on fixed deposits. The board noted the liquidation will not affect GKB's core business, with the only material financial impact being the loss of 'other income' from interest on GSV's fixed deposits. GSV's main asset is an unsecured loan of Rs. 5.00 crores given to GKB, which will be repaid during the liquidation process. GKB holds 79.54% equity in GSV, which contributed Rs. 1.16 crores (1.05%) to consolidated income and Rs. 16.21 crores (28.72%) to consolidated net worth as of March 2025. Shareholder approval will be sought via postal ballot, with the cutoff date set as September 26, 2025.
Minimal business impact for GKB as the subsidiary is non-operational, but shareholders should note a small reduction in consolidated 'other income' from lost FD interest. The equity investment in GSV will be returned to GKB after deducting nominal liquidation costs, subject to applicable laws.