TRTrent500251Strategic exit plan

Nahar Retail Trading signs term sheet to divest entire 100% stake in Netria Property Holdings

Trent's wholly owned subsidiary Nahar Retail Trading Services Ltd has entered into a binding term sheet dated 22nd October 2026 with TreBids Investment Trust, a SEBI-registered SM REIT.

By ScoutQuest · Fri 23 Oct 2026, 7:50 PM IST · 2 min read

Consideration per equity share

Rs 11.25 per equity share (unaudited financials as of September 30, 2026)

Outstanding loan repayment

approximately ₹171.91 crore and accrued interest up to closing

Completion condition

Definitive documents and the Trust's proposed first scheme initial public offer

What the company told the exchanges

Trent Ltd said its wholly owned subsidiary, Nahar Retail Trading Services Limited (Nahar), has entered into a binding term sheet dated 22nd October 2026 with TreBids Investment Trust. The term sheet covers the proposed divestment of Nahar's entire shareholding (100%) in its wholly owned subsidiary, Netria Property Holdings Limited (Netria).

Who is the buyer

• TreBids Investment Trust is a Small and Medium Real Estate Investment Trust registered with SEBI.
• It acts on behalf of the proposed first scheme of the Trust, with IDBI Trusteeship Services Limited as trustee, acting through TreBids Investment Management Private Limited.
• The buyers do not belong to the promoter, promoter group or group companies.
• The transaction would not be a related party transaction.

What the seller receives

• The total consideration to be received on completion is Rs 11.25 per equity share, based on unaudited financials as of September 30, 2026.
• The share consideration is subject to closing adjustments for net working capital as on the closing date.
• Alongside that, there is repayment of outstanding loans aggregating approximately ₹171.91 crore and accrued interest up to the closing date.

What changes after the sale

• Netria will cease to be a subsidiary of Nahar and, consequently, of Trent.
• Trent proposes to continue to occupy the premises owned by Netria under appropriate lease arrangements, with the Trust acting on behalf of its proposed first scheme.

Conditions before completion

• The acquisition by the Trust is subject to execution of the definitive transaction documents and completion of the initial public offer of the Trust's proposed first scheme.
• The binding term sheet is in connection with the proposed Share Purchase Agreement, which will be disclosed upon execution of that agreement.
• The transaction is expected to be completed following the initial public offer and satisfaction of the conditions precedent under the definitive transaction documents.

How to size it

• Netria was incorporated on 4th September 2025, and the update states that the amount and percentage of turnover, revenue, income and net worth contributed by it during the last financial year is not applicable.
• The update describes this as a sale of shares of a subsidiary, not a sale or lease of an undertaking outside a scheme of arrangement.

What to keep in mind

This is a binding term sheet for a proposed divestment, not a completed sale. The shareholding transfer and the consideration flow only after the definitive agreements are signed and the Trust's proposed first scheme offer is completed. Until then, Netria continues to sit within the Trent group.

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