Surana Telecom and Power Limited has informed the Exchange about Diversification/Disinvestment
SURANAT&P · price
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Surana Telecom and Power Limited's Board has approved the sale of its 49% equity stake in Bhagyanagar Solar Private Limited, a wholly owned subsidiary. The transaction is valued at Rs. 1.14 crore and is expected to be completed by June 20, 2026. The buyer is Lakhanlal Anand Kumar of Trade Private Limited, who is not a related party. After the sale, the subsidiary will cease to be a wholly owned subsidiary but will remain a subsidiary company. Notably, Bhagyanagar Solar Private Limited is yet to commence operations and has not contributed any revenue or income to the parent company.
This partial divestment reduces the parent's ownership to below 51%, changing the subsidiary's status. With no operational revenue from this entity, the financial impact on Surana Telecom's financials is minimal in the near term.