Punj Lloyd Limited has successfully completed the divestiture of its entire shareholding in Sembawang Infrastructure (India) Private Limited through a share purchase agreement with Diversified India Growth Fund. The transaction, formalized on March 31, 2026, represents a strategic move by the infrastructure company to streamline its subsidiary portfolio.

Transaction Details

The share purchase agreement encompasses the complete transfer of Punj Lloyd's 100% stake in Sembawang Infrastructure (India) Private Limited. Key transaction parameters are outlined below:

Buyer Profile and Regulatory Status

Diversified India Growth Fund operates as an alternative investment scheme under Diversified India Growth Trust. The fund maintains proper regulatory credentials, being registered as a Category II Alternative Investment Fund with SEBI registration number IN/AIF2/25-26/1819 under the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012. The fund operates through its Investment Manager, Dickey Asset Management Private Limited.

Importantly, the buyer has no connection to Punj Lloyd's promoter group or related entities, ensuring the transaction maintains arm's length characteristics and falls outside the related party transaction framework.

Subsidiary Financial Performance

Sembawang Infrastructure (India) Private Limited recorded no revenue during the last financial year FY2024-2025, indicating the subsidiary was non-operational or in a dormant state. This financial position likely influenced the nominal consideration structure of the transaction.

Regulatory Compliance and Disclosure

Punj Lloyd has fulfilled all regulatory requirements under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided comprehensive disclosures following the framework established in Schedule III of the Listing Regulations and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

The transaction does not involve any scheme of arrangement under Regulation 37A of LODR Regulations, nor does it constitute a slump sale requiring additional amalgamation or merger-related disclosures. No special rights, director appointment privileges, or capital structure restrictions are associated with this divestiture.

Punj Lloyd Limited has successfully completed its preferential equity issue, allotting 500,000 fully paid equity shares at par value of ₹2 per share. The Board of Directors approved the allotment during their meeting held on March 24, 2026, which commenced at 10 a.m. and concluded at 11 a.m.

Allotment Details

The preferential issue raised a total amount of ₹10 lakh through the allotment of equity shares at par value. This development follows the company's initial disclosure dated February 12, 2026, regarding the proposed issuance of equity shares on a private placement basis.

Allottee Distribution

The preferential allotment was distributed between two subscribers, with Adani Infra (India) Limited securing the majority stake in the issue.

Adani Infra (India) Limited, along with its nominees, subscribed to 475,000 equity shares, representing 95% of the total allotment. The remaining 25,000 shares were allocated to Dincum Growth Fund Mauritius, classified as a public shareholder.

Regulatory Compliance

The company has fulfilled all requisite disclosure requirements pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosures were made in accordance with SEBI Master Circular No. SEBI/HO/49/14/14(7)2025 CFD-PoD2/1/3762/2026 dated January 30, 2026.

Following this allotment, the company's issued and paid-up share capital has been updated to reflect the additional equity shares issued through this preferential placement. The allotment represents a strategic capital raising initiative for Punj Lloyd Limited, with Adani Infra emerging as a significant stakeholder through this transaction.