S H Kelkar and Company Limited has informed the Exchange about Sale of entire 17% equity stake of CFF Keva Italy S.p.A. held by the Company to Keva Italy Srl
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S H Kelkar and Company has approved the sale of its entire direct 17% equity stake in CFF Keva Italy S.p.A. to Keva Italy Srl, which is the company's own step-down subsidiary. The deal is part of a group restructuring to consolidate all European operations under Keva Europe BV, a wholly owned subsidiary of SHK. After the transaction, CFF will become a wholly owned subsidiary of Keva Italy, and SHK will continue to own 100% of CFF indirectly. CFF contributed Rs. 358.04 crore (~16.86%) to SHK's consolidated revenue and Rs. 94.35 crore (~7.42%) to consolidated net worth for FY25. Consideration is up to Euro 12.5 million, with the sale expected to be completed by September 30, 2026. The transaction qualifies as a related party transaction, to be executed at arm's length.
This is an internal group restructuring with no change in ultimate ownership for shareholders — SHK continues to fully own CFF, just through a different subsidiary. The financial impact is expected to be neutral as the company merely consolidates its European holding structure, and no open offer is triggered.