Intimation in relation to second amendment agreement to the share subscription agreement dated December 22, 2024 executed in relation to acquisition of 30.07% stake in Emirates Holding FZ LLC.
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Rose Merc Ltd has informed BSE about a second amendment agreement (executed on August 29, 2025) to the original share subscription agreement dated December 22, 2024 for acquiring a 30.07% stake in Emirates Holding FZ LLC, a UAE-based entity. The original stake acquisition was completed in March 2025, after which Emirates became a board-controlled subsidiary of Rose Merc. The second amendment specifically modifies the terms of payment of the subscription amount under the original deal. The total deal size stands at AED 10,869,540, with an issue price of AED 252,780 per share. The company clarified that this is not a related party transaction, and nominee directors Mr. Purvesh Shelatkar and Ms. Vaishali Parkar continue to represent Rose Merc on Emirates' board.
This is largely a procedural update that revises payment timelines for an already-completed acquisition, so it is unlikely to cause a sharp stock move. Investors should watch for clarity on revised payment schedules, as delays in funding the foreign subsidiary could impact future cash flows or further stake increases.