Chennai: Sundaram Finance Ltd (SFL) said its board has approved the acquisition of the entire stake in Sundaram Alternate Assets Ltd (SAAL) from Sundaram Asset Management Company Ltd (SAMCL).
Upon completion of the transaction, SAAL, which reported revenue of Rs 153 crore and profit after tax of Rs 26 crore in FY26, will become a direct subsidiary of SFL instead of a step-down subsidiary, according to a stock exchange filing. SAAL is currently a wholly owned subsidiary of SAMCL, which is itself wholly owned by SFL.
SFL will acquire all 3,90,53,158 equity shares of Rs 10 each held by SAMCL for a cash consideration not exceeding Rs 75 crore, excluding stamp duty, taxes and other charges. The company has indicated March 31, 2027, as the expected completion date.. You Can Also Check: Gold Rate in Chennai | Silver Rate in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai | Chennai AQI | Weather in Chennai | Petrol Price in Chennai | Diesel Price in Chennai | CNG Price in Chennai | LPG Price in Chennai Stay updated with the latest Chennai news.
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