SDSpan Divergent524727Board key decisions

Board approves leasing of immovable property to material subsidiary Dryfruit Factory LLP

Board approved leasing the company's property at Village Mahijada, Ahmedabad, to Dryfruit Factory LLP, a Material Subsidiary, for cashew processing/office use.

By ScoutQuest · Thu 5 Nov 2026, 7:48 PM IST · 2 min read

Expected monthly rent

not exceeding ₹3,00,000/- per month

Lease execution target date

on or before December 31, 2026

Board meeting date

November 05, 2026

What the company told the exchange

Span Divergent Ltd. (formerly Span Diagnostics Ltd.), which trades under scrip code 524727, informed the exchange that its Board of Directors, at its meeting held on Thursday, November 05, 2026, considered and approved the leasing of the company's immovable property to Dryfruit Factory LLP, a Material Subsidiary of the company.

The property and the counterparty

• Location: 27, Soham Industrial Park, Bareja-Dholka-Mahijada Road, Village Mahijada, Ahmedabad – 382425, Gujarat.
• Lessee: Dryfruit Factory LLP, described as a Material Subsidiary of the company.
• Purpose: to facilitate cashew processing/manufacturing operations and/or use as a commercial office by the Material Subsidiary.

What it is expected to earn

• Expected rental income from the transaction: not exceeding ₹3,00,000/- (Rupees Three Lakhs Only) per month.
• The update states the transaction is not expected to have any adverse impact on the business operations or financial position of the company.

Why it is a related party transaction

• The counterparty belongs to the promoter / promoter group / group companies, being a Material Subsidiary of the company.
• The transaction constitutes a Related Party Transaction, is being undertaken on an arm's length basis, and has been approved by the Audit Committee and the Board of Directors.

What happens next

• The Lease Agreement is proposed to be executed on or before December 31, 2026, subject to mutually agreed terms and conditions.
• The Board authorised Mr. Paras Desai, Whole-time Director & CFO, to negotiate, finalise and execute the lease agreement and other necessary documents, and to do all acts needed to give effect to the proposed lease.

On the disposal question

• The company states the transaction relates to leasing of immovable property to a Material Subsidiary and does not constitute a sale or disposal of the whole or substantially the whole of an undertaking under Regulation 37A of the SEBI (LODR) Regulations, 2015.

How a retail investor can read this

• This is a rental arrangement within the group: the listed company owns the property, and its material subsidiary will occupy it for cashew processing or office use.
• The rent is capped at up to ₹3,00,000/- per month, so the direct income from this arrangement is limited in size, and the final terms are still to be negotiated and signed.
• The approval has already come from the Audit Committee and the Board, and the company has marked the deal as arm's length; the actual agreement is yet to be executed, with December 31, 2026 as the stated target.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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