Kiran vyapar Limited has executed a Share Subscription Agreement to acquire a minority equity stake in Greshma Finvest Private Limited, marking a strategic expansion in the financial services sector. The transaction, formalized on February 9, 2026, represents the company's continued focus on enhancing its investment and financial services capabilities.

Acquisition Details

The Share Subscription Agreement involves the acquisition of 0.681% of the paid-up equity share capital in Greshma Finvest Private Limited (GFPL) for a total cash consideration not exceeding INR 2,43,84,139. The transaction is structured as a subscription-based acquisition, subject to completion of customary conditions mentioned in the agreement executed between Kiran Vyapar Limited, other investors, and GFPL.

Target Company Profile

Greshma Finvest Private Limited is an NBFC incorporated on October 12, 2010, under the Companies Act, 1956, with corporate identification number U65999MH2010PTC208887. The company operates from its registered office at 124, Viraj, 41-42, 4th Floor, S. V. Road, Khar (West), Mumbai, Maharashtra, 400052, India. GFPL has a paid-up share capital of INR 1,11,30,240 divided into 11,13,024 equity shares of Rs. 10 each.

Financial Performance

GFPL's financial performance for FY 2024-25 demonstrates stable operations in the NBFC sector:

The company's three-year turnover trend shows:

Strategic Rationale

Kiran Vyapar Limited, registered as a Non-Banking Financial Company - Systemically Important Non-Deposit taking (NBFC-NDSI) Company with the Reserve Bank of India, is expanding its investment and financial services activities. The acquisition is described as strategic in nature and will help the company enhance its business operations in the financial services sector.

Transaction Structure

The acquisition does not fall within the purview of related party transactions, and the promoter/promoter group of Kiran Vyapar Limited have no interest in GFPL. No governmental or regulatory approvals are required for this acquisition. The completion timeline is subject to fulfillment of customary conditions precedent as specified in the Share Subscription Agreement.

This strategic investment aligns with Kiran Vyapar Limited's objective to strengthen its position in the financial services industry and expand its investment portfolio within the NBFC sector.

Kiran Vyapar Limited announced its unaudited financial results for the quarter and nine months ended 31st December 2025, revealing mixed performance with quarterly losses but maintaining nine-month profitability. The Board of Directors approved these results at their meeting held on 3rd February 2026.

Consolidated Financial Performance

The company's consolidated operations showed contrasting performance with revenue growth but significant losses during the quarter.

Q3FY26 Consolidated Results

On a consolidated basis, the company reported a net loss of ₹25.41 crores for Q3FY26 against a profit of ₹7.84 crores in Q3FY25. Despite the loss, consolidated revenue showed growth, increasing to ₹35.46 crores from ₹31.45 crores in the corresponding quarter last year.

Standalone Financial Performance

The company's standalone operations also reflected quarterly challenges with revenue decline and losses.

Q3FY26 Standalone Results

The standalone operations reported a net loss of ₹197.81 lakhs for Q3FY26 compared to a profit of ₹245.62 lakhs in Q3FY25. Total revenue from operations declined marginally to ₹1,431.07 lakhs from ₹1,438.88 lakhs year-on-year.

Nine-Month Standalone Performance

For the nine months ended 31st December 2025, the company maintained standalone profitability with net profit of ₹795.25 lakhs, though significantly lower than ₹4,763.86 lakhs achieved in the corresponding period last year. Nine-month consolidated profit stood at ₹1,364.88 lakhs compared to ₹7,209.58 lakhs in the previous year.

Revenue Composition and Expenses

The company's revenue primarily comprises interest income of ₹857.95 lakhs, net gain on fair value changes of ₹544.40 lakhs, and dividend income of ₹16.05 lakhs for Q3FY26. Total expenses increased to ₹1,246.46 lakhs from ₹828.15 lakhs in Q3FY25, with finance costs rising significantly to ₹814.33 lakhs from ₹367.36 lakhs.

Regulatory Developments and Corporate Actions

The company highlighted the implementation of new Labour Codes effective from 21st November 2025, including the Code on Wages 2019, Industrial Relations Code 2020, Code on Social Security 2020, and Occupational Safety, Health and Working Conditions Code 2020. The company is currently evaluating the incremental impact of these regulatory changes, with effects to be reflected in the audited financial statements for the year ending 31st March 2026.

A Scheme of Amalgamation relating to associate company Placid Limited remains pending before the National Company Law Tribunal, Kolkata for sanction. The company operates primarily in financing and investment business, with consolidated operations also including trading activities through subsidiaries.