Setco Automotive Limited has informed the Exchange about General Updates
SETCO · price
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Setco Automotive Limited has announced the completion of a transaction initially disclosed on March 29, 2026. The company has sold 4,47,847 equity shares of its subsidiary Setco Auto Systems Private Limited (SASPL), representing approximately 41% of the paid-up share capital on a fully diluted basis, to RSB Transmissions (I) Limited. The transaction closed on May 27, 2026. As a result, SASPL has ceased to be a subsidiary of Setco Automotive. Additionally, pursuant to a Shareholders' Agreement, the Purchaser (RSB Transmissions) has acquired control over SASPL, including the right to control the composition of the board of directors and management.
This sale reduces Setco Automotive's stake in SASPL from majority control to a minority position, diminishing its consolidated business footprint. The transfer of control to RSB Transmissions marks a strategic exit from a key subsidiary.