Disclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Disinvestment in Associate Company.
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Sita Enterprises Ltd has fully divested its stake in its associate company, Bombay Mercantile & Leasing Company Limited. The company sold 720,000 equity shares of Rs. 10 each for a total consideration of Rs. 363.31 Lakhs. As a result, Bombay Mercantile & Leasing Company Limited has ceased to be an associate of Sita Enterprises with effect from September 2, 2025. The transaction had prior approval from the RBI, the Board of Directors, and the members of the company.
The company has received Rs. 363.31 Lakhs in cash from selling its entire holding in the associate, which will boost liquidity. Shareholders should note the company has now exited this investment and the associate will no longer contribute to its financials going forward.