Innovana Thinklabs Limited — Important, 28-07-2025: Diversification/Disinvestment

Innovana Thinklabs Limited announced that its subsidiary, Innovana Astro Services Limited, issued shares to parties other than existing shareholders. This strategic move reduced Innovana Thinklabs' ownership stake in the subsidiary from 100% to 92.01%. The issuance aims to achieve specific business objectives and ensure the subsidiary's continued growth. Innovana Astro Services reported a turnover of ₹16.38 Cr, income of ₹16.71 Cr, and net worth of ₹1.75 Cr last financial year. The subsidiary received ₹2.17 Cr from the share issuance. Notably, one of the buyers, Mr. Kapil Garg, is a promoter of Innovana Thinklabs Limited, and the transaction was conducted at arm’s length. This helps the subsidiary's growth by bringing in external capital and strategic alignment.