Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, intimation with respect to update on acquisition is attached herewith.
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Rose Merc Limited has informed BSE that Navi Mumbai Premier League Private Limited (NMPL) has become its subsidiary effective March 28, 2025. Rose Merc holds 24.87% of the paid-up share capital in NMPL but has gained control by appointing a majority of nominee directors on NMPL's board. NMPL is a newly incorporated company (June 11, 2024) operating in the sports industry, with no turnover or financial statements yet available. The initial cash consideration was only Rs. 25,000 for a 25% stake, which was marginally diluted to 24.87% after NMPL's fund-raising activity. The stated objective is to promote cricket at the grassroots level in the Navi Mumbai region (Mira Bhayander, Vashi, Thane, Kalyan, etc.). This filing is an update to earlier announcements made on May 9, 2024 and January 14, 2025.
This is a small, strategic diversification move into sports (cricket league) for Rose Merc, with negligible financial outlay. However, NMPL is a newly incorporated entity with no revenue history, so near-term impact on Rose Merc's financials is likely minimal. Investors should watch for further capital infusion or business development from this subsidiary in future filings.