Setco Automotive completes sale of SASPL stake to RSB Transmissions

Setco Automotive Limited has completed the sale of its stake in Setco Auto Systems Private Limited (SASPL), resulting in the cessation of SASPL's subsidiary status. The transaction closed on May 27, 2026, pursuant to a Share Purchase and Subscription Agreement (SPSA) initially announced on March 29, 2026. This strategic move alters the corporate structure by divesting a significant portion of the holding in the subsidiary.

The company transferred 4,47,847 equity shares of SASPL, representing approximately 41% of the paid-up share capital on a fully diluted basis. The shares were sold in favour of RSB Transmissions (I) Limited, the purchaser identified in the agreement. Consequently, SASPL is no longer a subsidiary of Setco Automotive Limited with effect from the closing date.

Transaction Details

The completion of the deal involved the execution of several key documents, including the SPSA, a Shareholders’ Agreement, and a non-compete agreement. These agreements were signed by Setco Automotive Limited, SASPL, RSB Transmissions (I) Limited, and other involved parties.

Party	Role
Setco Automotive Limited	Seller
Setco Auto Systems Private Limited (SASPL)	Target Company
RSB Transmissions (I) Limited	Purchaser

Control Transfer

Under the terms of the Shareholders’ Agreement, RSB Transmissions (I) Limited has acquired control over SASPL. This control includes the right to determine the composition of the board of directors and the management of SASPL. The transfer of control marks the final step in the disinvestment process initiated by the board's approval earlier in the year.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.00%	+12.42%	+12.56%	+69.96%	+48.94%	+20.95%

Setco Automotive Limited announced the resignation of Mr. Hiren Vala from the positions of Company Secretary, Compliance Officer, and Nodal Officer effective immediately. The resignation, tendered on May 27, 2026, was attributed to professional reasons and disclosed to the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mr. Vala served as a Key Managerial Personnel and was relieved from his responsibilities with effect from the close of business hours on May 27, 2026. The company confirmed that the resignation was communicated via a formal letter dated the same day.

Regulatory Filing Details

The disclosure was made in compliance with Para A, Part A of Schedule III of the SEBI Listing Regulations and SEBI Circular No SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The filing included the resignation letter and specific details regarding the cessation of the officer's tenure.

Succession Plan

Setco Automotive stated that it is currently in the process of identifying and hiring a suitable candidate to fill the vacancy. The company intends to inform the stock exchanges once the position is filled and a new officer assumes the responsibilities of Company Secretary, Compliance Officer, and Nodal Officer.

Details	Information
Resigning Officer	Mr. Hiren Vala
Positions Held	Company Secretary, Compliance Officer (Key Managerial Personnel), Nodal Officer
Resignation Date	May 27, 2026
Effective Date	With immediate effect (close of business hours on May 27, 2026)
Reason	Professional reasons
Regulatory Reference	Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015