Everest Industries Sells 3.12% Stake in Amplus Ampere Private Limited for ₹1.76 Crore

Everest Industries has completed the sale of its minority stake in Amplus Ampere Private Limited, marking a strategic divestment transaction worth ₹1.76 crore. The deal represents the company's move to optimize its investment portfolio through selective stake sales.

Transaction Details

The divestment involved the sale of a 3.12% equity stake in Amplus Ampere Private Limited, with the transaction being finalized on January 20, 2026. The deal structure and timing indicate a planned strategic exit from this minority investment.

Transaction Parameter:	Details
Stake Sold:	3.12%
Transaction Value:	₹1.76 crore
Completion Date:	January 20, 2026
Target Company:	Amplus Ampere Private Limited

Strategic Implications

This divestment allows Everest Industries to realize value from its minority holding in Amplus Ampere Private Limited. The transaction represents part of the company's broader strategy to manage its investment portfolio and focus resources on core business operations.

The completion of this stake sale provides Everest Industries with additional liquidity while reducing its exposure to minority investments. The timing and structure of the deal suggest a planned approach to portfolio optimization.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-4.13%	-6.08%	-18.12%	-29.06%	-41.29%	+28.99%

Everest Industries has received a new GST order from the Deputy Commissioner CGST, Ranchi, Jharkhand on December 31, 2025, following a Show Cause Notice dated June 24, 2025. This development comes as a separate matter from the company's earlier GST order disclosure related to Balasore, Odisha.

GST Order Details from Ranchi Authority

The order pertains to the period from 2018-19 to 2022-23 and involves multiple GST violations. The Deputy Commissioner has imposed a total demand of ₹2.77 crores on the cement products company.

Component:	Amount (₹)
Tax Demand:	66.22 lakhs
Interest:	0.18 lakhs
Penalty:	2.11 crores
Total Demand:	2.77 crores

Alleged Violations and Contraventions

The GST order identifies several key violations during the assessment period:

Violation Type:	Details
ITC Claims:	Excess ITC claimed in GSTR 3B compared to GSTR 2A
Ineligible ITC:	Availed ineligible/blocked Input Tax Credit
RCM Compliance:	Short GST payment under Reverse Charge Mechanism
Tax Liability:	Short payment compared to GSTR 1 declarations
Return Discrepancy:	Difference between GSTR-9 and GSTR 3B tax values
Interest Payment:	Non-payment of applicable interest

Demand Reduction and Legal Framework

The original tax demand including interest has been reduced by ₹1.45 crores, bringing it down from ₹2.11 crores to ₹66.40 lakhs. The order has been issued under sections 74 and 50 of the Central GST Act, 2017, SGST Act, 2017, and IGST Act, 2017.

Company's Response Strategy

Everest Industries plans to contest the entire demand of ₹2.77 crores through an appellate process. The company's assessment indicates confidence in achieving a favorable outcome at the appellate level and does not expect any material financial impact from this order. The company has stated its intention to file an appeal against the complete demand including tax, interest, and penalty components.