Acquires Sharan Hospitality under resolution plan, eyes about Rs 29 cr gain
MAJESAUT · price
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Majestic Auto is implementing an NCLT-approved resolution plan for Sharan Hospitality Pvt Ltd following a Supreme Court order dated July 17, 2026. Total plan value is about Rs 105.42 crore. In the first phase, it allotted 5 lakh equity shares and Rs 35 crore NCDs, making SHPL a wholly-owned subsidiary. It will then transfer these securities to NovumLake Property Fund and 360 ONE Real Assets Advantage Fund for Rs 105.42 crore, expecting a pre-tax gain of about Rs 29.28 crore. Completion is targeted by October 31, 2026.
Positive: potential one-time pre-tax gain of about Rs 29.28 crore, but contingent on full transaction completion and SHPL debt repayment.