Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('LODR Regulations') and Schedule III Part A (1) thereof, we wish to inform yo ....
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Awaiting price reaction for this filing.
SPV Global Trading's board has approved entering into a binding term sheet to sell its 22,79,410 equity shares (54.90% stake) in Rashtriya Metal Industries Limited (RMI), its material subsidiary, to Gravita India Limited for approximately Rs 310.17 Crores, subject to due diligence and closing adjustments. RMI contributed 97.36% of the company's consolidated turnover (Rs 885.95 Cr) and 98.55% of net worth (Rs 297.48 Cr) for FY25, meaning this transaction effectively transfers nearly the entire operating business of the company. The buyer, Gravita India, is not a related party or part of the promoter group, and the deal is expected to close on or before 31 March 2026. Shareholders had already approved the disposal via a special resolution on 6 February 2026 in compliance with Regulation 37A of LODR.
This is a transformative divestiture — selling the subsidiary that generates almost all of SPV Global's revenue and net worth — and will leave the company as a near-shell entity holding significant cash (Rs 310+ Cr). Shareholders should expect the stock to re-rate based on cash deployment plans, and any further announcement on use of proceeds or binding SPA execution will be key catalysts.