Step-down subsidiary Atyati approves slump sale of JLG lending business to TVAM for Rs. 59,49,000

Atyati Technologies (ATPL), a step-down subsidiary, has approved entering a Business Transfer Agreement to sell its Joint Liability Group (JLG) financial lending business to TVAM Technologies on a going-concern basis via slump sale.

Tue 29 Sep 2026

JLG Business Turnover

Rs. 100.56 Crores (26.8% of ATPL's FY 2025-26 total turnover)

Consideration Amount

Rs. 59,49,000, subject to post-closing adjustments

Net Worth of Unit

Rs. 59.49 lacs (0.9% of ATPL's net worth) as on July 1, 2026

Expected Closing Timeline

About 90 days, subject to lender and regulatory approvals

What was announced

The Board of Atyati Technologies Private Limited (ATPL), a step-down subsidiary of the company with effect from July 2, 2026, approved entering into a Business Transfer Agreement with TVAM Technologies Private Limited for the sale and transfer of its Joint Liability Group – Financial Lending Business on a going concern basis through a slump sale. A slump sale means the business is sold as a whole unit for a lump-sum price, rather than asset by asset.

Size of the business being sold

• Turnover of the JLG Business Undertaking: Rs. 100.56 Crores, which is 26.8% of ATPL's total turnover for FY 2025-26.
• No separate net worth for the unit is available as on March 31, 2026. Net worth computed as on July 1, 2026 for the unit is Rs. 59.49 lacs, which is 0.9% of ATPL's total net worth.

Consideration

The consideration is Rs. 59,49,000, subject to post-closing adjustments in line with the Closing Accounts of the JLG Business Undertaking prepared as at the Closing Date. Note that the price matches the stated net worth of the unit as on July 1, 2026, while the unit contributed a much larger share of turnover.

Status and timeline

• The BTA has been approved by the Board and shareholders of ATPL but is yet to be executed.
• Completion is expected in about 90 days, subject to conditions precedent including consents from lenders, regulatory/statutory authorities and other concerned parties.

About the buyer

TVAM Technologies Private Limited is a private company based in Bengaluru, engaged in financial services including banking, lending, insurance and wealth management delivered through a customer-facing application. TVAM does not belong to the promoter/promoter group/group companies of the listed company. However, a director of ATPL is a Director and Member of TVAM, so TVAM is a related party of ATPL. The update states the transaction has been entered at arm's length.

Structure and shareholding

The slump sale is not being undertaken through a Scheme of Arrangement, and since the transfer is by a step-down subsidiary, Regulation 37A is stated as not applicable. There will be no change in the shareholding pattern of the listed entity because of the transaction.

Stated rationale

The company describes the transaction as part of its broader business re-organisation and operational restructuring, intended to streamline operations, optimise deployment of resources and enable greater strategic and operational focus through an appropriate business structure.

How investors may read it

The move removes a lending business that contributed over a quarter of ATPL's turnover but only a small part of its net worth. Perceptions may vary: some may see a cleaner focus on Business Correspondent services and technology solutions, others may focus on the loss of revenue contribution and on the fact that the buyer is a related party of the subsidiary. Execution still depends on signing the BTA and receiving lender and regulatory consents.

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