Amber Enterprises India Limited has announced that its material subsidiary, Sidwal Refrigeration Industries Private Limited (“Sidwal”), has fully divested its 49% equity stake in the joint venture, Shivaliks Mercantile Limited (“Shivaliks”). The transaction was executed with JP Fincap Private Limited for a nominal consideration of ₹1,09,798.85. Consequently, Shivaliks will cease to be a joint venture of Sidwal upon the transaction’s consummation, which occurred on March 30, 2026. Sidwal had previously written off its entire investment.
Disinvestment of Joint Venture Equity
Amber Enterprises India Limited has informed the exchanges regarding a significant corporate action taken by its material subsidiary, Sidwal Refrigeration Industries Private Limited (“Sidwal”). The Boards of Amber and Sidwal approved the disinvestment of the entire 49% equity stake held by Sidwal in its joint venture, Shivaliks Mercantile Limited (“Shivaliks”).
Transaction Details and Consideration
The key details of the transaction are as follows:
- Prior to this sale, Sidwal had already written off its full investment in Shivaliks in the financial statements for the quarter ended December 31, 2025.
- Sidwal entered into a Share Purchase Agreement with JP Fincap Private Limited for the sale of all 10,97,98,850 equity shares held in Shivaliks.
- The total consideration for the sale was the nominal value of ₹1,09,798.85 (Rupees One Lakh Nine Thousand Seven Hundred Ninety Eight and Eighty Five Paise Only).
- Upon completion, Shivaliks will cease to be a joint venture of Sidwal.
Buyer Profile and Independence
The buyer, JP Fincap Private Limited, is an independent third party and is not related to the promoter, promoter group, or group companies of Amber Enterprises India Limited. The transaction is confirmed not to be a related party transaction.
Financial Impact of Shivaliks
The financial performance of Shivaliks, contributed to the console financial statements of Amber for the Financial Year ended March 31, 2025, included:
- Income (PAT)*: (₹2,562.49 Lakh)
- Net Worth: (Not provided as a computable figure)
It is noted that no percentage is computable for these figures because Shivaliks incurred a loss during the last financial year. The agreement for sale was entered into on March 30, 2026, and the transaction was completed on the same date.
Source: BSE
