Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015- Intimation of disinvestment of stake in Associates/Joint Venture of the Company
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Awaiting price reaction for this filing.
Quest Flow Controls Ltd's board approved the sale of its entire 48.95% stake in associate/joint venture Nibe Meson Naval Limited for a total consideration of Rs. 4.90 lakhs. The JV had zero revenue and a negative net worth in FY24-25, indicating it was a non-performing or dormant investment. The buyer is Nibe Limited, and the deal is classified as a related party transaction since two directors serve on both companies, though the company states it is being done at arm's length. The agreement was signed on November 21, 2025, with expected completion by December 31, 2025. The filing also clarifies this is not a slump sale and does not fall under any scheme of arrangement.
Minimal financial impact for shareholders — this is essentially a cleanup of a loss-making, zero-revenue associate for a nominal sum, so neither the proceeds nor the exit are material to the company's financials or stock price.