Intimation regarding divestment in Veracity Supply Chain Limited ('Veracity'), a Joint Venture Company.
Awaiting price reaction for this filing.
Adani Ports and Special Economic Zone Ltd's material subsidiary, Adani Logistics Limited (ALL), has entered into a Joint Venture Termination Agreement on June 20, 2025, to divest its 49% stake in Veracity Supply Chain Limited to its JV partner Riddhi Infocom Solutions LLP. ALL will retain a 1% stake post-divestment. The total consideration received is Rs. 4.90 lakhs for the 49% shares. Veracity reported a turnover of Rs. 36,283.47 lakhs and a net worth of Rs. 10.99 lakhs as of March 31, 2025. The buyer is the existing JV partner and is not part of the promoter/promoter group. The transaction is not a related party transaction and is expected to be completed on June 20, 2025.
The divestment effectively ends the JV relationship with Riddhi in Veracity, with APSEZL retaining only a token 1% stake. The minimal consideration of Rs. 4.90 lakhs for 49% (against net worth of Rs. 10.99 lakhs) suggests this is primarily a strategic exit rather than a value-accretive transaction, and is unlikely to materially impact the stock price.