Majestic Auto Limited has completed the sale of all securities of Sharan Hospitality Private Limited (SHPL) for an aggregate consideration of ₹1,05,42,80,536, resulting in SHPL ceasing to be a wholly owned subsidiary.

Transaction completion

In a filing dated September 29, 2026, Majestic Auto disclosed that it transferred all SHPL securities — comprising Equity Shares, Non-Convertible Debentures, and Bonus Redeemable Preference Shares — to NovumLake Property Fund and 360 ONE Real Assets Advantage Fund (the Purchasers), in accordance with the Securities Purchase Agreements and upon fulfilment of applicable conditions under the transaction documents and applicable laws. This follows the earlier disclosure dated September 23, 2026, wherein the Bonus Redeemable Preference Shares had been credited to Majestic Auto's demat account. Additionally, SHPL repaid the Inter-Corporate Deposit of ₹29,28,00,000 extended by the company in connection with the implementation of the Resolution Plan. With this, the entire transaction envisaged under the Resolution Plan and related transaction documents stands completed.

The transaction resulted in a pre-tax gain of approximately ₹29,28,00,000 accruing to Majestic Auto, in accordance with the Securities Purchase Agreements and applicable transaction documents.

Fund flow breakdown

The following table captures the fund flow across the transaction, detailing amounts subscribed by Majestic Auto as the Successful Resolution Applicant (SRA), proceeds received from the Purchasers, and the Inter-Corporate Deposit repayment by SHPL.

SHPL financial profile

As on March 31, 2025, SHPL contributed the following to Majestic Auto's consolidated financials (figures in lakhs):

Purchaser profiles

The two purchasers are Category II Alternative Investment Funds:

• 360 ONE Real Assets Advantage Fund is managed by 360 One Alternates Asset Management Limited, which manages AUM of ~₹52,533 crore as on March 31, 2026. The fund invests across infrastructure and commercial real estate platforms and assets.
• NovumLake Property Fund is managed by NovumLake Partners Private Limited and is focused on investments in commercial real estate assets across metro cities in India.

Neither purchaser is related to the promoter, promoter group, or group companies of Majestic Auto. The transaction is not classified as a related party transaction.

Key transaction details

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Consequent to the transfer, SHPL has ceased to be a wholly owned subsidiary of Majestic Auto.

Majestic Auto appointed Puneet Verma as its new Chief Financial Officer effective September 22, 2026. The appointment was approved by the Board of Directors based on recommendations from the Nomination and Remuneration Committee and the Audit Committee.

Appointment details

Verma joins as a Whole-time Key Managerial Personnel (KMP). His appointment aligns with Regulation 30 and Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company disclosed that the decision was taken at a Board meeting held on Tuesday, September 22, 2026.

Professional background

Verma is an experienced finance professional with over 10 years of comprehensive experience. His expertise spans financial management, accounting, taxation, regulatory compliance, financial reporting, and audit. He holds a Bachelor of Laws (LL.B.) with specialization in Taxation and Legal Matters, a Master of Commerce (M.Com), and a Bachelor of Commerce (B.Com).

Key areas of expertise

• Direct and indirect taxation, including GST and TDS
• NBFC compliances and statutory audits
• Financial reporting and working capital management
• Internal controls and governance-oriented approaches

The company stated that Verma brings a strong combination of financial expertise, taxation knowledge, and leadership capabilities to support its financial objectives and sustainable growth.