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Nicco Parks & Resorts has informed BSE about the completion of the buyback offer by its investee company Nicco Engineering Services Limited (NESL). The company tendered 14,87,260 equity shares of NESL at Rs. 122.07 per share under the buyback (Letter of Offer dated 8 May 2025), for an aggregate consideration of approximately Rs. 18.15 crore. As a result, Nicco Parks' shareholding in NESL has reduced to 9.16% of NESL's paid-up share capital, falling below the 20% threshold defined under Section 2(6) of the Companies Act, 2013. Consequently, NESL will no longer qualify as an associate company of Nicco Parks, and the company will cease to consolidate NESL's financial statements with its own from the quarter ending 30 June 2025 (Q2 FY26).
Nicco Parks will receive a cash inflow of ~Rs. 18.15 crore from the tendered shares, but will lose the ability to consolidate NESL's financials, which may reduce its reported consolidated revenues and profits going forward. The deconsolidation could also impact EPS and net asset value, depending on NESL's earlier contribution to consolidated results.