Entire stake in wholly owned subsidiary sold for Rs. 5,50,00,000; unit ceases to be subsidiary
Share Purchase Agreement signed on September 24, 2026 to divest the company's entire holding in Rexnord Enterprise Private Limited (REPL), its wholly owned subsidiary.
By ScoutQuest · · 1 min read
- Sale Consideration
- INR 5,50,00,000 (Rupees Five Crores Fifty Lakhs only)
- Agreement Date
- September 24, 2026
- Expected Completion Date
- October 10, 2026
- Subsidiary Net Worth
- INR 62,76,730.90 (0.65% on consolidated basis)
- Subsidiary Turnover (FY ended March 31, 2026)
- NIL
What was announced
Rexnord Electronics and Controls has signed a Share Purchase Agreement dated September 24, 2026 for the disinvestment of its entire holding in Rexnord Enterprise Private Limited (REPL), a wholly owned subsidiary. Following this, REPL ceases to be a subsidiary of the company.
Key terms
- Total consideration: INR 5,50,00,000 (Rupees Five Crores Fifty Lakhs only)
- Agreement date: September 24, 2026
- Expected date of completion of sale: October 10, 2026
How material was the subsidiary
- Turnover contributed in the financial year ended March 31, 2026: NIL, percentage contribution NIL
- Net worth contributed: INR 62,76,730.90, being 0.65% on the basis of consolidated financial statements
The buyer
Jamin Property Developers I Private Limited, incorporated under the Companies Act, 2013, with registered office in Egmore, Chennai. The update states the buyer is not related to the promoter, promoter group or group companies, and the transaction does not fall within related party transactions.
Other details
The disclosure states that the question of the sale being outside a Scheme of Arrangement is not applicable, and slump sale disclosures are not applicable. The letter continues earlier communications on this matter.
How investors may read it
The subsidiary contributed no turnover and a small share of consolidated net worth, so the operating impact appears limited. The consideration of INR 5,50,00,000 is notably higher than the net worth contribution of INR 62,76,730.90 attributed to the subsidiary, which readers may view alongside the company's upcoming results for any gain recorded on the sale.
More numbers
- Total consideration for saleINR (5,50,00,000/-
- Net worth contributed by subsidiary FY ended March 31, 2026INR 62,76,730.90/-
- Net worth contribution percentage (consolidated)0.65%
- Turnover contributed by subsidiaryNIL
- Turnover percentage contributionNIL
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