Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, we hereby submit the intimation towards the sale of stake in Subsidiary Company.
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SPV Global Trading Limited has received shareholder approval to sell its entire 54.90% stake (22,79,410 equity shares) in Rashtriya Metal Industries Limited, its material subsidiary. The subsidiary contributed 97.36% of consolidated turnover (₹88,595.02 lakhs) and 98.55% of net worth (₹29,748.72 lakhs) for FY ending March 31, 2025, making it the company's core revenue-generating asset. The minimum sale price is fixed at ₹1,325 per share, translating to a total minimum consideration of ₹302.02 crores, subject to final negotiation. The buyer is yet to be identified but will not be from the promoter group, and the transaction is expected to close on or before June 30, 2026.
This is effectively a sale of the company's entire operating business, as the subsidiary accounts for nearly all of its revenue and net worth. Shareholders should expect a significant cash inflow of at least ₹302 crores, but the company will be left as a near-shell entity post-completion, which may materially affect its future earnings profile and stock valuation.