Announced Wed, 22 Jul · 18:19 IST
Board approves 3.67% stake sale in subsidiary SPSPL for about Rs 1.17 crore
Strategic Transactions View source PDF
Price
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Price reaction · full curve 14 horizons · vs prior close
-2.4%1-day move
₹22.52
prior close
₹22.45
base price
After-mkt
timing
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+0.2+1.9+1.5—-2.4-2.4————————
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AI summary
Board approved selling 5,500 equity shares (3.67%) of wholly owned subsidiary Square Port Shipyard Private Limited to Master Financial Services Ltd for Rs 1.17 crore at Rs 2,119 per share. Post-sale, stake in SPSPL drops from 100% to 96.33%, so SPSPL will no longer be a wholly owned subsidiary but remains a subsidiary. SPSPL contributed 7.47% of revenue and 4.51% of net worth last year. Also noted Company Secretary Anushree Tekriwal's resignation effective July 14, 2026.
Likely market impact
Small minority stake sale in subsidiary for cash; SPSPL stays a subsidiary. Minimal direct impact on shareholders.