Oricon Enterprises Limited has announced the signing of a Share Purchase Agreement for the divestment of its stake in associate company Tecnocap Oriental Private Limited. The transaction, executed on March 31, 2026, involves the sale of 25% equity holding to an Italian entity.

Transaction Details

The Share Purchase Agreement covers the sale of 2,46,833 equity shares, representing a 25% stake in Tecnocap Oriental Private Limited. The buyer, TGP Tecnocap Group Partecipazioni S.R.L., is a company incorporated under Italian laws with its registered office located at Cava de' Tirreni (SA), Via Starza, Zona Industriale, SNC, CAP 84013.

Financial Impact

Tecnocap Oriental Private Limited, being an associate company of Oricon Enterprises, contributed a loss of Rs. 74.75 lakhs as share of profit/(loss) during the last financial year ending March 31, 2025. The transaction does not involve any related party dealings, as confirmed in the regulatory disclosure.

Buyer Profile

TGP Tecnocap Group Partecipazioni S.R.L. is an Italian corporation operating under Italian corporate laws. The company is not affiliated with Oricon Enterprises' promoter group or related entities, making this transaction an arms-length deal with an independent third party.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This follows an earlier intimation dated February 14, 2026, indicating prior communication regarding the potential transaction. The company has provided comprehensive details as required under SEBI Master Circular No. SEBI/HO/CFD/PoD-2/CIR/P/0155 dated November 11, 2024.

Transaction Structure

The divestment represents a complete exit from the 25% stake held in Tecnocap Oriental Private Limited. The transaction structure indicates a straightforward equity sale without any slump sale characteristics or merger-related complexities. The expected completion date has been marked as not applicable, suggesting the agreement may have immediate effect upon signing.

Oricon enterprises has announced the resignation of Mr. Varun Somani from his position as Director, effective March 17, 2026. The company informed both BSE and NSE about this corporate governance change through a regulatory filing under SEBI LODR Regulations.

Resignation Details

The resignation stems from a Memorandum of Family Settlement dated September 01, 2025, executed among the company's promoters. This settlement addresses shareholding and directorship arrangements across various listed and unlisted companies within the promoter group.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing includes all requisite details as per SEBI master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Committee Impact

As part of his resignation, Somani will also step down from his positions on the Nomination and Remuneration Committees of the Board. This change will require the company to reconstitute these committees in accordance with regulatory requirements.

Director's Statement

In his resignation letter, Somani expressed appreciation for the opportunity to serve the company and acknowledged the support received from the Board, management, and colleagues during his tenure. He specifically cited the family settlement agreement as the driving factor behind his decision to resign from the directorship.

The resignation represents a strategic realignment of directorship roles within the promoter group, following the comprehensive family settlement agreement executed in September 2025. Oricon Enterprises Limited has confirmed that all necessary regulatory intimations will be filed with the appropriate authorities.