Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI LODR'), we hereby inform you that the board of directors ('Board') of Shanti ....
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On 2 March 2026, the board approved a major restructuring under a Composite Scheme of Arrangement. First, the entire education business (turnover Rs 26.32 cr, 86.2% of net worth) will be transferred via slump sale to a newly incorporated wholly-owned subsidiary, Shanti Learning Initiatives Pvt Ltd, in exchange for 9.41 crore equity shares worth Rs 94.16 crores. Second, the residual Shanti Educational Initiatives will merge into Grew Energy Pvt Ltd, a large solar modules and cells manufacturer (turnover Rs 1,589.6 cr, total assets Rs 3,944.3 cr). Shareholders of Shanti Educational will receive 100 shares of Grew Energy (Re 1 face value, post subdivision) for every 212 shares held. The board also approved re-appointment of Susanta Kumar Panda as Independent Director for a second 5-year term starting 26 May 2026, alteration of the MOA to permit such schemes, and a postal ballot for shareholder approval.
If approved by shareholders, NCLT, BSE, SEBI and CCI, existing Shanti Educational shareholders will effectively swap their education-services stock for a stake in Grew Energy, a much larger solar manufacturing business that will seek BSE listing — a significant business pivot with potential value-unlock but also execution and approval risks.