In continuation of our earlier disclosure dated August 14, 2025, made Under Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) ....
MAJESAUT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Majestic Auto is selling its entire 80% stake in subsidiary Emirates Technologies Private Limited (ETPL) for a total consideration of INR 196 crore. The company has now received a second tranche of INR 70.79 crore, following the initial advance of INR 124.65 crore received on August 14, 2025. Only INR 54.55 lakh remains pending, with the transaction expected to complete by September 14, 2025. ETPL contributed 11.60% (Rs. 72.49 crore) to Majestic Auto's consolidated net worth. Buyers include Rhombus Infrazone Pvt Ltd, Equilateral Techpark Pvt Ltd, and four individuals (Gurpreet Singh Sobti, Harsimhar Deep Singh, Naresh Arora, and Chirag Arora), none of whom belong to the promoter or promoter group. The buyers are largely active in real estate and specialty chemicals.
The divestiture will bring in INR 196 crore in cash, strengthening Majestic Auto's balance sheet. Shareholders had already approved the disposal via special resolution in 2023, and the deal is progressing on schedule with nearly all consideration received.