Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Para A of Part A of Schedule III and SEBI Circular ....
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The Board of Directors of Arunis Abode Limited has approved the sale of its equity stake in two group companies — Arunis Edifice Private Limited (associate) and Arunis Realities Private Limited (wholly owned subsidiary). The company will sell 73,500 shares of Arunis Edifice at Rs. 10 each, fetching Rs. 7.35 lakh, and 10,000 shares of Arunis Realities at Rs. 42.42 each, fetching about Rs. 4.24 lakh. Total expected sale proceeds are roughly Rs. 11.59 lakh, with completion targeted before April 25, 2025. Both buyers are relatives of the promoter/promoter group, making these related-party transactions carried out at arm's length. After the sale, Arunis Edifice will no longer be an associate company and Arunis Realities will no longer be a wholly owned subsidiary.
The financial impact on Arunis Abode is minimal since both entities contributed 0% to consolidated income and net worth in FY24. Shareholders should note this is a structural reshuffle, not a value-accretive deal — proceeds are small and the buyers are related to the promoter group.