EID Parry , a prominent player in the Indian sugar industry, has announced a strategic move to sell its entire 50% stake in the joint venture company Algavista Greentech Private Limited. The Board of Directors approved this decision during a meeting held on September 19, 2025, as disclosed in a filing to the stock exchanges.

Transaction Details

The stake sale, valued at Rs 8.00 crores, will be executed with Synthite Industries Private Limited, the other 50% joint venture partner in Algavista Greentech. Notably, Synthite Industries is not affiliated with EID Parry's promoter group, ensuring an arm's length transaction.

Financial Impact

The divestment involves a joint venture that had a limited financial impact on EID Parry's overall operations:

Timeline and Completion

EID Parry expects to complete the transaction within three months. The company stated that definitive documents for the sale will be signed in due course, formalizing the agreement between the parties involved.

Corporate Governance

In compliance with SEBI regulations, EID Parry has provided detailed disclosures regarding the stake sale. The Board meeting that approved this decision commenced at 9:45 am and concluded at 11:30 am on the day of the announcement.

This move by EID Parry appears to be part of its strategy to streamline its portfolio and focus on core business areas. The minimal financial contribution of Algavista Greentech to EID Parry's overall operations suggests that this divestment is unlikely to have a significant impact on the company's financial performance in the short term.

EID Parry (India) Limited, a prominent player in the Indian sugar industry, has received a significant request that could alter its ownership structure. Yanmar Coromandel Agrisolutions Private Limited (YCAS) has formally asked to be removed from EID Parry's promoter and promoter group category, potentially reshaping the company's shareholder composition.

Background of the Request

The de-classification request stems from a recent change in Coromandel International Limited's (CIL) shareholding in YCAS. On September 27, 2024, Yanmar Asia (Singapore) Corporation Pte. Ltd. injected Rs. 149.72 crore into YCAS, resulting in CIL's stake in YCAS dropping from 40% to 10.60%. This reduction in ownership means YCAS no longer meets the regulatory definition of a Promoter and Promoter Group under Securities and Exchange Board of India (SEBI) regulations.

Current Shareholding and Request Details

As of September 16, 2025, YCAS holds zero shares in EID Parry, according to the request letter submitted to the company. The letter, dated September 16, 2025, formally seeks reclassification of YCAS from the 'promoter and promoter group' category to the 'public' category.

Regulatory Compliance

In line with SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations, YCAS has confirmed several key points in its request:

• Neither YCAS nor any related person holds more than 10% of EID Parry's total voting rights
• They do not exercise control over EID Parry's affairs
• They have no special rights through formal or informal arrangements
• They have no representation on EID Parry's board of directors
• They are not acting as key managerial personnel in the company

Next Steps

For the de-classification to take effect, it requires approval from EID Parry's Board of Directors. Additionally, the company must obtain no-objection from both the National Stock Exchange of India Limited and BSE Limited.

EID Parry has acknowledged receipt of the request on September 17, 2025, and is expected to initiate the necessary procedures to address YCAS's de-classification appeal.

This move could potentially impact EID Parry's shareholding structure and may be of interest to investors and market watchers tracking changes in the company's ownership pattern.