Saint Capital Fund-backed NBFC considers divestment of entire stake in subsidiary

Saint Capital Fund-backed NBFC company LKP Finance has stated that its board of directors will meet soon to consider divestment of a 100 per cent stake in the wholly owned subsidiary Bond Street Capital Private Limited. According to the company, the meeting of its board of directors is going to be held on December 29.

"A meeting of the Board of Directors of the Company is scheduled to be held on Friday, December 29, 2023 inter-alia, to consider and approve ... Divestment of entire shareholding in the wholly owned subsidiary of the Company - Bond Street Capital Private Limited, subject to requisite approval by the members of the Company," the company said in an exchange filing. 

The company also said that the board of directors will also consider selling certain properties. "Sale of certain property(ies) and investments (in listed and unlisted companies) of the Company, Subject to requisite approval by the members of the Company," the filing reads.

According to the shareholding pattern of LKP Finance, Saint Capital Fund, a Mauritius-based foreign institutional investor (FII), holds 2.46 lakh shares of the company. This is around 1.96 per cent of the total paid-up capital of the company.