Endurance Technologies to sell Veicoli Srl for €2.2 million

1 min read Updated on 25 Jun 2026, 04:24 AM

Reviewed by

Suketu GScanX News Team

AI Summary

Endurance Technologies Limited will sell its step-down subsidiary Veicoli Srl to Banyan Software UK Limited for €2.2 million, allowing it to focus on its core auto components business. The transaction includes a deferred payment and earn-out provision, with completion expected on July 1, 2026.

*this image is generated using AI for illustrative purposes only.

Endurance Technologies Limited has agreed to sell its step-down subsidiary Veicoli Srl to Banyan Software UK Limited for €2.2 million. The sale allows Endurance Technologies to focus resources on its core auto components business. The transaction is expected to be completed on July 1, 2026, subject to regulatory approvals.

Endurance Overseas SpA, a wholly-owned subsidiary of Endurance Technologies, entered into a Share Purchase Agreement on June 23, 2026. Veicoli Srl provides software platforms for the fleet management sector. The buyer is a body corporate registered in the United Kingdom and is not part of the promoter group.

The total consideration comprises an upfront fixed payment of €2.2 million and a deferred fixed payment of €0.3 million. Additionally, the deal includes an earn-out consideration linked to Veicoli's financial results for the first three years after completion, capped at €5.0 million. The transaction is a share sale and does not constitute a slump sale or a related party transaction.

Veicoli Srl reported a total income of Rs. 32.58 crore for the financial year 2025-26, representing 0.22% of the consolidated total income of Endurance Technologies. The net worth of Veicoli Srl as of March 31, 2026, stood at Rs. 3.15 crore, accounting for 0.48% of the consolidated net worth. Upon completion, Veicoli will cease to be a subsidiary of Endurance Overseas SpA and consequently of Endurance Technologies.

Key Transaction Details

Item	Description
Buyer	Banyan Software UK Limited
Date of Agreement	June 23, 2026
Expected Completion Date	July 1, 2026
Upfront Payment	€2.2 million
Deferred Payment	€0.3 million
Earn-out Cap	€5.0 million

Historical Stock Returns for Endurance Technologies

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.69%	-1.76%	-2.53%	+4.71%	-7.68%	+61.34%

How will Endurance Technologies utilize the proceeds from the sale to strengthen its core auto components business?

What specific performance metrics will trigger the earn-out consideration for Veicoli Srl over the next three years?

Will this divestment signal a broader strategy for Endurance to exit other non-core software investments?

Read Next Article

Endurance Technologies elevates Preety Raj to President cadre

1 min read Updated on 24 Jun 2026, 01:25 AM

Reviewed by

Anirudha BScanX News Team

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AI Summary

Endurance Technologies Limited elevated Ms. Preety Raj, Chief Human Resources Officer, to the President cadre effective April 1, 2026, following an annual performance evaluation. The appointment, disclosed on June 23, 2026, categorises her as Senior Management Personnel under the company's Nomination and Remuneration Policy. Ms. Raj brings over 28 years of experience across automotive, IT, banking, and services sectors.

*this image is generated using AI for illustrative purposes only.

Endurance Technologies Limited has elevated Ms. Preety Raj, its Chief Human Resources Officer, to the President cadre effective April 1, 2026. This move categorises her as Senior Management Personnel in accordance with the company's Nomination and Remuneration Policy. The elevation follows the annual performance evaluation process and aims to strengthen the company's leadership structure.

The appointment was disclosed to the stock exchanges on June 23, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company referenced a specific SEBI Circular dated January 30, 2026, regarding the disclosure of senior management changes.

Ms. Preety Raj brings over 28 years of experience spanning the automotive, information technology, banking, and services sectors. She holds a Master's degree in Human Resources and Industrial Relations, a Diploma in Management from Harvard Business School, and an Executive MBA from IIM Bangalore. Her expertise includes HR strategy, organisational transformation, leadership development, and diversity, equity & inclusion (DE&I).

In her current role, she oversees Human Resources and Administration functions, driving people strategy and organisational effectiveness. The terms and conditions of her employment remain governed by her existing agreement with the company.

Details of Appointment

Sr. No.	Particulars	Details
1.	Reason for change	Elevation to President cadre and categorisation as Senior Management Personnel.
2.	Date of appointment	April 1, 2026
3.	Term of appointment	Governed by existing terms and conditions of employment.
4.	Brief profile	Over 28 years of experience in automotive, IT, banking, and services sectors. Holds a Master's degree in HR and Industrial Relations, a Diploma from Harvard Business School, and an Executive MBA from IIM Bangalore.

Historical Stock Returns for Endurance Technologies

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.69%	-1.76%	-2.53%	+4.71%	-7.68%	+61.34%

How will Ms. Raj's elevation to the President cadre influence Endurance Technologies' long-term organizational transformation and talent retention strategies?

Will this leadership restructuring trigger further promotions or executive reshuffles within the company's senior management team?

What specific DE&I and leadership development initiatives can be expected under Ms. Raj's strengthened mandate?