Karma Energy Ltd announced the sale of its wholly owned subsidiary, Bay Wind Projects Private Ltd (BWPPL), to M/s Ram Krishna Iron Works Private Limited for Rs. 1,00,000. This sale, approved during a board meeting on December 30, 2024, includes the transfer of 10,000 equity shares at face value. The transaction falls under related party deals as the buyer is part of the promoter group.
According to the company’s disclosure, the sale aligns with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and was conducted at arm’s length. Despite its wholly owned status, BWPPL did not contribute to Karma Energy’s consolidated revenue or net worth in FY2024 as it was acquired only in October 2024.
Post this transaction, Bay Wind Projects will no longer be a subsidiary of Karma Energy. The stock reflected market sentiments, with shares declining nearly 3% on the BSE today.
Karma Energy Share Price history
| Day | Open | Close | Change % |
|---|---|---|---|
|
Mon, Dec 30 2024
|
₹65.09
|
₹62.01
|
-4.11%
|
|
Fri, Dec 27 2024
|
₹66.50
|
₹64.67
|
-0.78%
|
|
Thu, Dec 26 2024
|
₹68.65
|
₹65.18
|
-1.85%
|
|
Tue, Dec 24 2024
|
₹65.83
|
₹66.41
|
|
|
Mon, Dec 23 2024
|
₹69.68
|
₹65.83
|
-3.16%
|
|
Fri, Dec 20 2024
|
₹70.00
|
₹67.98
|
-0.92%
|
|
Thu, Dec 19 2024
|
₹68.65
|
₹68.61
|
|
|
Wed, Dec 18 2024
|
₹68.25
|
₹68.26
|
-0.54%
|
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