MODISON LIMITED has informed the Exchange about cessation of wholly owned subsidiary w.e.f June 09,2025 due to disinvestment by way of transfer.
MODISONLTD · price
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Modison Limited has sold its entire shareholding in its wholly owned subsidiary, Modison Hitech Private Limited (MHPL), effective June 9, 2025. MHPL had not commenced any business since its incorporation, with nil total income and a negligible net worth of just Rs. 24,000 as of March 31, 2025. The company was not a material subsidiary. The buyers are Mr. Girdhari Lal Modi and Mr. Kumar Jay Modi, who are part of Modison's promoter group, and the transaction was carried out as a related party deal at arm's length for a total consideration of Rs. 1 lakh. The company has clarified that this disposal will have no impact on its revenue or business operations.
This is a routine corporate housekeeping event with no material impact on shareholders, as the subsidiary was non-operational and contributed nothing to revenue. The transaction value is negligible and should not affect the stock price.