The stake will be sold to the joint venture partner, Synthite Industries Pvt Ltd, which currently holds the remaining 50% in Algavista Greentech. Upon completion of the transaction, Synthite Industries will become the sole owner of the company. The consideration for the sale is ₹8 crore.
According to regulatory filings, Algavista Greentech contributed marginally to E.I.D.- Parry’s financials in FY25, with a revenue contribution of ₹1.46 crore (0.046%) and a net worth contribution of ₹10.50 crore (0.4134%).
The definitive sale agreements are expected to be signed in due course, with the transaction anticipated to close within three months. Importantly, Synthite Industries Pvt Ltd is not part of the promoter or promoter group of E.I.D.- Parry (India) Ltd.
