Amber Enterprises India Limited has announced that its material subsidiary, Sidwal Refrigeration Industries Private Limited (“Sidwal”), has completed the disinvestment of its entire 49% equity stake in the joint venture, Shivaliks Mercantile Limited (“Shivaliks”). The sale was executed on March 30, 2026, to JP Fincap Private Limited for a nominal consideration of ₹1,09,798.85. Consequently, Shivaliks will cease to be a joint venture of Sidwal following the transaction’s consummation.
Cessation of Joint Venture Relationship
Amber Enterprises India Limited (“Amber”) has informed the stock exchanges about a significant strategic change involving its material subsidiary, Sidwal Refrigeration Industries Private Limited (“Sidwal”). The Boards of both Amber and Sidwal approved the disinvestment of Sidwal’s entire 49% equity stake held in its joint venture entity, Shivaliks Mercantile Limited (“Shivaliks”).
Transaction Details and Consideration
The formal agreement for this divestment was executed on March 30, 2026. 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 consideration for the sale was set at a 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 no longer be classified as a joint venture of Sidwal.
Financial Context and Buyer Information
It is noted that Sidwal had already written off its full investment in Shivaliks in its financial statements for the quarter ended December 31, 2025, and these amounts were disclosed as exception items. The buyer, JP Fincap Private Limited, is a privately held company incorporated in May 1995 and is engaged in investment and financial services. The filing confirms that JP Fincap Private Limited is an independent third-party entity and is not related to the promoter, promoter group, or group companies of Amber.
Impact on Financial Reporting
The financial contribution of Shivaliks to Amber’s figures for the Financial Year ended March 31, 2025, is detailed below (Amounts in Lakhs):
- Income (PAT): (₹2,562.49)
- Net Worth: (Value not specified/applicable)
The disclosure explicitly states that no percentage for turnover, income, or net worth contribution is computable because Shivaliks incurred a loss during the last financial year. The transaction involved a secondary sale of shares and is confirmed not to constitute a related party transaction.
Source: BSE
