ITL Industries Limited Completes Sale of Subsidiary M.M. Metals Private Limited
ITL Industries Limited announced the completion of the sale and transfer of shares in its non-material subsidiary, M.M. Metals Private Limited, with effect from March 20, 2026. The move means M.M. Metals Private Limited will no longer be considered a subsidiary of ITL Industries.The agreement for the sale was entered into on March 18, 2026. The total consideration received for the sale of 30,480 equity shares, representing 52.55% of the issued, subscribed, and paid-up equity share capital of M.M. Metals Private Limited, is INR 64,31,280, or INR 211 per equity share.
Contribution of M.M. Metals Private Limited:
According to financial data from March 31, 2025, M.M. Metals Private Limited contributed INR 419.91 lakhs (2.25%) to the consolidated income and a yet-to-be-disclosed amount to the consolidated net worth.
Details of the Buyer:
The buyers for the shares are:
| S.N. | Name | Nature of Relationship with M.M. Metals Private Limited |
|---|---|---|
| 1 | Mrs. Rekha Jain | Directors Relative |
| 2 | Mr. Narendra Jain | Directors Relative & Shareholder |
| 3 | Mrs. Meena Jain | Directors Relative & Shareholder |
| 4 | Mr. Ravish Jain | Director & Shareholder |
| 5 | Mr. Prakhar Jain | Director & Shareholder |
| 6 | Mr. Manish Jain | Director & Shareholder |
| 7 | Mr. Shekhar Jain | Director & Shareholder |
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