iStreet Network reports ₹299.38 crore related party transactions in FY26

1 min read     Updated on 30 May 2026, 03:56 PM
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Suketu GScanX News Team
AI Summary

iStreet Network Limited disclosed related party transactions worth ₹299.38 crore for FY26. The transactions involved purchases from Indygen Labs Private Limited and Healtech Software India Private Limited, both sharing a common director relationship. The audit committee approved and ratified these transactions on May 29, 2026.

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iStreet network disclosed related party transactions totaling ₹299,383,347.3 for the financial year ended March 31, 2026, pursuant to Regulation 23(9) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transactions primarily involved the purchase of goods or services from two entities sharing a common director relationship with the listed entity. The total value of these transactions was ratified by the audit committee on May 29, 2026.

The related party transactions were conducted with Indygen Labs Private Limited and Healtech Software India Private Limited. Both counterparties share a common director relationship with iStreet Network Limited. The aggregate value of transactions with these parties during the reporting period amounted to ₹299,383,347.3.

The audit committee approved the transactions and subsequently ratified them during a meeting held on May 29, 2026. The table below details the individual transaction values, approved amounts, and the outstanding balances due to or from the parties as of the reporting date.

Sr. No. Name of Counterparty Relationship Type of Transaction Value Approved by Audit Committee (₹) Value Ratified by Audit Committee (₹) Value During Reporting Period (₹) Opening Balance (₹) Closing Balance (₹)
1 Indygen Labs Private Limited Common Director Purchase of goods or services 252,350,521.00 252,350,521.00 252,350,521.00 22,300,000.40 154,828,000.00
2 Healtech Software India Private Limited Common Director Purchase of goods or services 47,032,826.34 179,748,913.00 47,032,826.34 147,096,000.00 47,032,826.34
Total 299,383,347.3 299,383,347.3

The disclosure was submitted to BSE Limited on May 30, 2026, by Pratibha Ranka, Company Secretary and Compliance Officer of iStreet Network Limited. The filing provides details of the transactions for the information and records of the stock exchange.

Historical Stock Returns for iStreet Network

1 Day5 Days1 Month6 Months1 Year5 Years
-1.10%+1.79%-6.79%+5.39%+814.63%+1,664.71%

How will the significant outstanding balance of ₹154.8 million due to Indygen Labs impact iStreet Network's cash flow and liquidity in the upcoming fiscal year?

Does the substantial variance between the approved and ratified amounts for Healtech Software indicate potential changes in transaction scope or pricing adjustments?

Will iStreet Network seek to diversify its vendor base to reduce reliance on entities with common director relationships?

iStreet Network board to meet on May 29 to consider Q4FY26 results

1 min read     Updated on 22 May 2026, 11:10 PM
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Reviewed by
Shriram SScanX News Team
AI Summary

iStreet Network Limited will hold a board meeting on May 29, 2026, to consider audited financials for the quarter and year ended March 31, 2026. The agenda includes approving the designation change of Mr. Uttam Dave to Chairman and Managing Director and a related party transaction. The board will also address the shifting of the registered office and the reconstitution of a key committee while noting the resignation of Mr. Rakesh Rathi.

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iStreet network has announced that its Board of Directors will meet on Friday, May 29, 2026. The meeting has been convened in accordance with Regulation 29 of the SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015. The primary agenda includes the consideration and approval of the audited financial statements for the quarter and fiscal year ended March 31, 2026.

Key Agenda Items

Alongside the financial results, the board will discuss several significant corporate matters. The directors are scheduled to consider a proposal to change the designation of Mr. Uttam Dave. Currently serving as Chairman and Whole Time Director, he is slated to be redesignated as Chairman and Managing Director.

The board will also evaluate a related party transaction and approve the shifting of the company's registered office within the local limits. Another key item on the agenda is the reconstitution of the Business Review and Securities Allotment Committee.

Resignation Update

The meeting will also take note of the resignation of Mr. Rakesh Rathi from his position as Managing Director of the company. This development is part of the administrative updates to be recorded during the proceedings.

Agenda Item Description
Financials Audited results for Q4 and FY ended March 31, 2026
Designation Change Mr. Uttam Dave to be designated as Chairman and MD
Related Party Approval of a related party transaction
Registered Office Shifting within local limits
Committee Reconstitution of Business Review and Securities Allotment Committee
Resignation Take note of Mr. Rakesh Rathi's resignation as Managing Director

Historical Stock Returns for iStreet Network

1 Day5 Days1 Month6 Months1 Year5 Years
-1.10%+1.79%-6.79%+5.39%+814.63%+1,664.71%

How might Mr. Uttam Dave's transition from Whole Time Director to Managing Director influence iStreet Network's strategic direction and decision-making going forward?

What could be the potential impact of Mr. Rakesh Rathi's resignation as Managing Director on investor confidence and the company's operational continuity?

What nature of related party transaction is likely being approved, and could it signal any significant business partnerships or restructuring plans for iStreet Network?

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1 Year Returns:+814.63%