Punj Lloyd Limited has announced the execution of a share purchase agreement with Diversified India Growth Fund for the divestment of its subsidiary Indtech Global Systems Limited. The transaction represents a significant corporate restructuring move as the company divests nearly its entire stake in the subsidiary.

Transaction Details

The share purchase agreement was executed on March 31, 2026, with completion also expected on the same date. Key transaction parameters are outlined below:

Subsidiary Performance

Indtech Global Systems Limited, the subsidiary being divested, reported total revenue of INR 4,93,000 in the last financial year FY 2024-2025. This financial performance data provides context for the divestment decision and transaction valuation.

Buyer Profile

Diversified India Growth Fund serves as the acquiring entity in this transaction. The fund operates as an alternative investment scheme under specific regulatory framework:

• Fund Structure: Alternative investment scheme of Diversified India Growth Trust
• Registration: Category II Alternative Investment Fund
• SEBI Registration Number: IN/AIF2/25-26/1819
• Investment Manager: Dickey Asset Management Private Limited
• Regulatory Compliance: Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012

Regulatory Compliance

The transaction adheres to regulatory requirements under SEBI listing obligations. Important compliance aspects include:

The buyer has no connection to Punj Lloyd's promoter, promoter group, or group companies, ensuring the transaction's independence. The deal structure confirms it does not fall within related party transaction parameters and maintains arm's length commercial terms.

Corporate Communication

Punj Lloyd Limited filed the disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, following an earlier intimation dated February 13, 2026. The company secretary Adhish Swaroop executed the regulatory filing to both BSE Limited and National Stock Exchange of India Limited, ensuring comprehensive market notification of this material corporate action.

Punj Lloyd Limited has completed the divestment of its subsidiary Atna Investments Limited through a share purchase agreement with Diversified India Growth Fund. The transaction involves the sale of 99.99% shareholding and was executed on March 31, 2026, with completion on the same date.

Transaction Details

The key parameters of the divestment are outlined below:

Buyer Information

Diversified India Growth Fund serves as the acquirer in this transaction. The fund operates as an alternative investment scheme of Diversified India Growth Trust and holds registration as a Category II Alternative Investment Fund with SEBI under registration number IN/AIF2/25-26/1819. The fund operates through its Investment Manager, Dickey Asset Management Private Limited, in accordance with the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012.

Transaction Structure

The divestment represents a complete exit from Atna Investments Limited, with Punj Lloyd retaining minimal shareholding after the transaction. The sale does not constitute a related party transaction, as confirmed by the company's disclosure. Key aspects include:

• Buyer Independence: Diversified India Growth Fund has no connection to Punj Lloyd's promoter, promoter group, or group companies
• Arm's Length Transaction: The deal was conducted on commercial terms without related party considerations
• Regulatory Compliance: The transaction falls outside the scope of Scheme of Arrangement provisions

Financial Impact

Atna Investments Limited contributed INR 5,63,000 in total revenue during the last financial year FY 24-2025. The subsidiary's divestment at INR 15.61 per share represents Punj Lloyd's strategic decision to exit this investment. The transaction was disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring full transparency to stakeholders.

The completion of this divestment on March 31, 2026, marks the conclusion of Punj Lloyd's involvement in Atna Investments Limited, allowing the company to focus resources on its core business operations.