Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Intimation of disinvestment of stake in subsidiary of the company.
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Quest Flow Controls Ltd has approved the sale of its entire 70.33% stake in subsidiary TAMR Alloys Private Limited (formerly Milindpra Castings Private Limited). The subsidiary contributed zero revenue and had a net worth of just Rs. 28,916 in FY24-25, indicating it was effectively a non-operating entity. The buyer is Mr. Milind Mohan Prabhu, an individual with casting expertise and not part of the promoter group. Total consideration for the deal is just Rs. 70,330, and the transaction is being done on an arm's length basis. The sale is expected to be completed by March 6, 2026, and is outside any scheme of arrangement.
This is a very low-value, housekeeping divestment of a non-revenue-generating subsidiary and is unlikely to have any material impact on the company's financials or stock price. Shareholders may view it as portfolio cleanup rather than a strategic shift.