Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, SEATTLE ONLINE PRIVATE LIMITED ceasing to be a subsidiary of the Company.
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Gold Rock Investments has informed the stock exchanges that Seattle Online Private Limited is no longer its subsidiary, effective June 26, 2025. Seattle recently completed a rights issue, allotting 6,75,000 equity shares to its existing equity shareholders. Since Gold Rock held only preference shares (and no equity shares) in Seattle, it did not receive any allotment in the rights issue. As a result, Gold Rock's holding in Seattle dropped to 6.74% of the aggregate shareholding (equity plus preference), falling below the threshold required under Section 2(87) of the Companies Act, 2013 to qualify as a subsidiary. The company clarified that Seattle was not a material subsidiary, and Gold Rock continues to hold its preference shares in Seattle.
This is a passive change driven by dilution at the subsidiary level, not a deliberate sale or strategic divestiture. Since Seattle was not a material subsidiary, the financial impact on Gold Rock's consolidated numbers is expected to be limited. Shareholders are unlikely to see any material change in valuation, and the stock price is unlikely to react significantly.