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Majestic Auto transferred Sharan Hospitality securities to NovumLake and 360 ONE for Rs 1,05,42,80,536
29-Sep-2026, 10:20
Majestic Auto Limited has completed the transfer of all securities, including Equity Shares, Non-Convertible Debentures, and Bonus Redeemable Preference Shares, of Sharan Hospitality Private Limited to NovumLake Property Fund and 360 ONE Real Assets Advantage Fund for an aggregate consideration of Rs 1,05,42,80,536, according to a regulatory filing. The company also received Rs 29,28,00,000 as repayment of an Inter-Corporate Deposit, completing the transaction under the Resolution Plan, which resulted in a pre-tax gain of approximately Rs 29,28,00,000 for Majestic Auto Limited, and caused Sharan Hospitality Private Limited to cease being a wholly owned subsidiary.