we are submitting herewith Agreement for sale/ transfer of shares of the Subsidiary Company namely M. M. Metals Private Limited for 30480 Equity shares representing 52.55% Equity Share ....
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ITL Industries has signed an agreement on 18th March 2026 to sell 30,480 equity shares (52.55% stake) in its subsidiary M.M. Metals Private Limited. Once the sale completes (expected on or before 31st March 2026), M.M. Metals will cease to be a subsidiary of ITL Industries. M.M. Metals is a non-material subsidiary, contributing only 2.25% to consolidated income (Rs. 419.91 lakhs) and 2.65% to consolidated net worth (Rs. 212.79 lakhs) as of 31st March 2025. The buyers are all related parties — directors of the company and their relatives (members of the Jain family). The deal value (consideration) has not been disclosed yet and will be shared later.
This is a small, non-core divestment and should have minimal impact on ITL Industries' overall financials. However, since the buyers are related parties (promoter family members), shareholders should watch for the final sale consideration to assess whether the deal is fair and at arm's length.