Sale / Transfer of Equity shares
Awaiting price reaction for this filing.
Photon Capital Advisors Ltd has sold its full investment in associate company Nicosa Consulting Private Limited — 23,96,000 equity shares of Rs. 10 face value — for a total consideration of Rs. 3.83 Crores. The buyers are the company's promoters, Wholetime Director Sobharani Nandury and Vennela Nandury, making this a related party transaction conducted at arm's length. As a result, Nicosa Consulting has ceased to be an associate company. The sale was approved by the Board on November 10, 2025 and by shareholders at an EGM on December 5, 2025. The associate contributed NIL to the company's revenue, income, and net worth in the last financial year, and the proceeds will be used for the company's long-term objectives.
A clean exit from a non-contributing associate company at Rs. 3.83 Crores brings in cash for long-term use, but since the associate contributed nothing to revenue or net worth, the financial impact is minimal. The transaction with promoters may draw governance scrutiny, though it was conducted at arm's length with shareholder approval.