Excel Industries Limited has announced that its wholly owned subsidiary, Kamaljyot Investments Limited (KIL), has sold its entire 46.25% stake in Climacrew Private Limited (CPL) to Mr. Ashwin C. Shroff, a promoter of the company. The divested stake amounts to 14,72,228 shares, and the transaction was completed on March 28, 2025, for a total consideration of Rs 1,47,22,280.
Following this transaction, Climacrew Private Limited ceases to be an associate company of Excel Industries Limited.
According to the company’s disclosure under SEBI regulations, the associate company contributed minimally to the overall financials of Excel Industries in the last fiscal year (FY24), with a revenue contribution of just Rs 2.84 lakh (0.003% of total revenue) and a negative net worth of Rs 40 lakh.
The deal, classified as a related party transaction, was carried out at an arm’s length basis. The transaction is not part of any scheme of arrangement and does not qualify as a slump sale.
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