Oricon Enterprises Limited has informed the Exchange about sale of Shares of Associate Company
ORICONENT · price
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Oricon Enterprises has signed a Share Purchase Agreement to sell its entire 25% stake (2,46,833 equity shares) in associate company Tecnocap Oriental Private Limited to TGP Tecnocap Group Partecipazioni S.R.L., an Italian company, for a total consideration of Rs. 5.5 crore. The agreement was signed on March 31, 2026. The associate company had contributed a loss of Rs. 74.75 lakhs to Oricon's books in the last financial year (FY25). The transaction is not a related party transaction and does not involve any slump sale.
This is a minor divestment — the 25% stake in a loss-making associate was sold for Rs. 5.5 crore, which is unlikely to materially impact the stock. The sale allows Oricon to exit a loss-making investment, which is mildly positive for shareholders, but the scale is too small to move the needle on share price.