Subex Limited Announces Voluntary Liquidation of SAASPL
Subex Limited (NSE: SUBEXLTD | BSE: 532348) has announced the voluntary liquidation of its wholly owned subsidiary, Subex Account Aggregator Services Private Limited (SAASPL). This decision follows the earlier surrender of in-principle approval granted by the Reserve Bank of India (RBI) for SAASPL, which had never commenced its operations.
The shareholders of SAASPL have approved this liquidation, pending regulatory approvals. Importantly, Subex confirmed that SAASPL is not a material subsidiary and its liquidation will have no material impact on the company’s consolidated financials. As of March 31, 2024, SAASPL had a net worth of Rs. 22,858, accounting for only 0.685% of Subex’s overall net worth.
Market Impact: Given that SAASPL was non-operational and immaterial in size, the market reaction is expected to be neutral. There may be a slight positive sentiment as Subex streamlines its corporate structure and focuses resources on core operations, signaling prudent management decisions.
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