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SAT Inds to sell stake in Genext Students

24-Sep-22 12:16Hrs IST

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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