Aakash Exploration Services Limited — Important, 13-02-2025: Updates

DIL Venture Oil and Gas Private Limited has ceased being a wholly-owned subsidiary of Aakash Exploration Services Limited due to the transfer of shares. This subsidiary contributed a nominal net worth of Rs. 79,447 (0.01%) during the last financial year, with no reported turnover, revenue, or income. The completion of the share transfer is expected by February 14, 2025, for a consideration of Rs. 1,00,000. The buyers, Ms. Devni Hemang Haria and Mr. Vihan Vipul Haria, are associated with the promoter group. The transaction is classified as a related-party transaction and is conducted at arm's length, ensuring compliance with governance standards.

Investors should consider how this divestment aligns with the company's strategic focus and any potential impacts on its capital structure.