Deccan Transcon Leasing Limited has approved the proposed sale of its 47.5% stake in King Star Freight Private Limited for an indicative consideration of approximately ₹6.15 crore. The transaction, based on a valuation report from an Independent Registered Valuer, is expected to be completed within 16 months and will result in King Star Freight ceasing to be an associate company. The sale involves related parties and is being undertaken on an arm's length basis.

The Board of Directors of Deccan Transcon Leasing Limited approved the disposal of its investment in King Star Freight Private Limited on June 08, 2026, following the recommendation of the Audit Committee. The proposed acquirers are King Star Freight Private Limited and Mr. Bejoy Varghese Vallikkunnel, a Director and shareholder of the associate company. Mr. Bejoy Varghese Vallikkunnel holds 47,500 equity shares, constituting 47.5% of the paid-up equity share capital of King Star Freight Private Limited, and approximately 0.0043% of the paid-up equity share capital of Deccan Transcon Leasing Limited.

The transaction is classified as a related party transaction but will be conducted at arm's length, with the value determined by the Independent Registered Valuer. The entire equity share capital of King Star Freight Private Limited has been valued at approximately ₹12.95 crore. As of the date of the disclosure, no definitive agreement has been executed, and no consideration has been received. The proposed transaction is outside a Scheme of Arrangement and does not attract Regulation 37A of the SEBI (LODR) Regulations, 2015.

Financial Performance of King Star Freight Private Limited

King Star Freight Private Limited recorded a Standalone turnover of approximately ₹33.34 crore and a Standalone Net Worth of approximately ₹9.89 crore during FY 2024-25 (audited). Provisional financial information for FY 2025-26 indicates a Standalone Turnover of approximately ₹37.96 crore and a Standalone Net Worth of approximately ₹12.79 crore as at March 31, 2026.

Upon completion of the transfer of 47,500 equity shares, King Star Freight Private Limited will cease to be an Associate Company of Deccan Transcon Leasing Limited. The Audit Committee had recommended the proposed transaction at its meeting held on May 08, 2026.

Deccan Transcon Leasing Limited has appointed Mr. Sudhakar Venkata Kada as its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective June 03, 2026. The Board of Directors approved the appointment during its meeting held on May 30, 2026, based on recommendations from the Nomination and Remuneration Committee and the Audit Committee.

Mr. Sudhakar Venkata Kada brings over 27 years of experience across Renewable Energy, Manufacturing, ITES, and Chemical Industries. His expertise includes Strategic Finance, Mergers & Acquisitions, Fund Raising, Treasury Management, FP&A, Corporate Governance, Financial Reporting, Strategy, Tax Planning, and Team Building.

The appointment was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that Mr. Kada is not debarred from holding office by virtue of any order of SEBI or any other authority.

Appointment Details