EGM Notice: Setco to sell SASPL stake to RSB Transmissions, rename to Shilayan Industries
SETCO · price
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Setco Automotive has called an EGM on April 25, 2026 for shareholders to approve: (1) sale of its ~65% stake (4,47,847 + 2,62,153 equity shares) in material subsidiary SASPL to RSB Transmissions (I) Ltd in tranches, starting at ~INR 185 Cr plus EBITDA-linked deferred consideration; (2) name change to Shilayan Industries Limited; and (3) alteration of the object clause. The SASPL deal also enables IndiaRF's full exit for INR 976 Cr (INR 934 Cr cash + INR 42 Cr in RPS).
Major restructuring — exit from material subsidiary, brand change to Shilayan Industries; management signals future dividends. Key shareholder vote on April 25.