Golden-Valley Treasure Park Pvt. Ltd. has ceased to be subsidiary of the Company and it will be classified to be Associate of the Company w.e.f. March 31, 2026.
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Parle Industries Ltd has announced that its subsidiary, Golden-Valley Treasure Park Pvt. Ltd. (GVTPL), has ceased to be a subsidiary effective March 31, 2026. This change occurred because GVTPL conducted a Right Issue Offer to strategic investors, which was fully subscribed. The capital expansion through this rights issue substantially diluted Parle Industries' shareholding in GVTPL. As a result, GVTPL will now be classified as an Associate company instead of a subsidiary. The company has made this disclosure under SEBI Listing Regulations, specifically Regulation 30(6).
This indicates Parle Industries has lost significant control over GVTPL due to third-party participation in the rights issue. The reduction in ownership stake means GVTPL's financials will no longer be fully consolidated with Parle Industries, potentially affecting the parent company's revenue and asset base.