In Continuation to the company earlier dated 31st March 2026, we wish to inform you that the company has executed a share purchase agreement on Saturday, 04th April 2026

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AI summary

Standard Capital Markets Ltd has executed a Share Purchase Agreement on April 4, 2026, for the sale of its 100% equity stake in KRV Brooms Private Limited, which is a wholly owned subsidiary of the company. This is a continuation of an earlier intimation made on March 31, 2026. The transaction is subject to certain pre-closing obligations and conditions precedent that need to be fulfilled before the deal closes. The filing does not disclose the purchase price or the identity of the buyer.

Likely market impact

The complete divestment of a wholly owned subsidiary signals a significant restructuring of the company's business portfolio. Depending on the size of KRV Brooms relative to Standard Capital Markets, this could have material impact on the company's future revenue and asset base. Shareholders should monitor for further disclosures on deal completion and financial impact.