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 |
Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.