In furtherance to our intimation dated February 13, 2026, we wish to inform you that the Company has entered into a share purchase agreement dated March 31, 2026 with Diversified India ....
Awaiting price reaction for this filing.
Punj Lloyd Ltd has signed a share purchase agreement dated March 31, 2026, to sell its 84.6% stake in wholly-owned subsidiary Punj Lloyd Aviation Limited to Diversified India Growth Fund, a Category II Alternative Investment Fund managed by Dickey Asset Management. The consideration is a nominal INR 0.0019 per share, and the sale is expected to be completed on the same day. The subsidiary had no revenue in FY2024-25, indicating it is a dormant or non-operational entity. The buyer is not related to the promoter or promoter group, and the transaction is not a related party deal.
Since the subsidiary generated no revenue and is being sold at a token price, the financial impact on shareholders is negligible. The move appears to be a portfolio cleanup to offload a dormant subsidiary rather than a value-accretive transaction.