Board approves sale of 26% stake and exit from JV Aircom Remsons Automotive
Board approved the sale of the Company's investment and exit from the joint venture in Aircom Remsons Automotive Private Limited (ARAPL).
- Stake Sold
- 26% — 52,000 equity shares of Rs.10 face value
- Cash Consideration
- Rs. 5,20,000/-
- JV Turnover (Last FY)
- Rs. 0.00 lakh
- JV Net Worth (Last FY)
- Rs. -2.52 lakh
- Expected Completion Date
- 31st October, 2026
What was decided
The Board of Directors, at its meeting held on 1st October, 2026, considered and approved the sale of the Company's investment and its exit from the joint venture arrangement in Aircom Remsons Automotive Private Limited (ARAPL).
On completion, the existing joint venture arrangement between the Company and Aircom Group AG / its subsidiary in relation to ARAPL will stand terminated as per the terms of the Agreement.
Deal terms
- Shareholding sold: 26%
- Number of shares sold: 52,000 equity shares of face value Rs.10/- each
- Cash consideration: Rs. 5,20,000/-
- Buyer: Aircom Group India Private Limited
- The buyer does not belong to the promoter / promoter group
- Not a related party transaction
What the JV contributed
For the last financial year, as disclosed
- Turnover: Rs. 0.00 lakh, which is 0.00%
- Net Worth: Rs. -2.52 lakh, which is 0.00%
This indicates the joint venture entity had no revenue contribution and a negative net worth of a very small size relative to the Company.
Timeline
The agreement for sale was entered into on 1st October, 2026. The transaction is expected to be completed upon fulfilment of the conditions precedent and other closing requirements specified in the Share Purchase and Exit Agreement by 31st October, 2026.
The Board meeting commenced at 2.45 P.M. and concluded at 3.15 P.M.
How investors may read it
The exit is from an entity that, per the disclosure, contributed no turnover and had a small negative net worth. The consideration involved is small in absolute terms. The Company has stated that the transaction is not expected to have any adverse impact on its operations. Investors may view this as a simplification of the Company's joint venture structure, with completion still subject to the closing conditions in the agreement.
Also from Remsons Industries
Sad demise of Whole Time Director; company informs BSE and NSE
6 Oct 2026
More numbers
- Percentage shareholding sold26%
- Equity shares sold52,000 (Fifty-Two Thousand) Equity Shares
- Face value per shareRs.10/-
- Cash considerationRs. 5,20,000/-
- Turnover contributed by JV (last FY)0.00
- Turnover contribution percentage0.00
- Net Worth contributed by JV (last FY)-2.52
- Net Worth contribution percentage0.00
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