SAT Inds to sell stake in Genext Students

The board of SAT Industries approved offloading stake in Genext Students to Navneet Futuretech.

The board approved the sale of company's 10,10,127 equity shares, or 18.79% equity, in in Genext Students to Navneet Futuretech.

Genext Students is an ed-tech organization providing full stack education solutions to students and educators since 2013. In 2021, Navneet Tech Ventures, a wholly owned subsidiary of Navneet Education, acquired 51.8% stake in Genext.

Further, the board also approved an application for listing the company's shares on the National Stock Exchange of India (NSE).

SAT Industries is a BSE listed company. It is a diversified business group engaged in various business activities such as manufacturing, education, leasing, finance, investments, domestic trading and import and export through its group companies. Through its subsidiaries, it has a presence in more than 100 countries across the world. Its head office is located in Mumbai, India.

On a consolidated basis, net profit of SAT Industries rose 44.47% to Rs 10.59 crore on 84.80% rise in net sales to Rs 117.22 crore in Q1 June 2022 over Q1 June 2021.

Shares of SAT Industries fell 0.60% to Rs 41.10 on Friday, 23 September 2022.

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