Shanti Educational Initiatives keeps IP out of slump sale in scheme

Shanti Educational Initiatives (NSE: SEIL) said in a filing on 4 Nov 2026 that its board approved a change to its composite scheme of arrangement with Shanti Learning Initiatives Private Limited, keeping the company's intellectual property out of the proposed slump sale. The same meeting approved unaudited results for the half year ended 30 Sep 2026, with consolidated total assets of ₹107.06 crore.

Key highlights

• Board approval of the scheme modification: 4 Nov 2026
• Scheme first approved by the board: 2 Mar 2026
• Consolidated total assets: ₹107.06 crore at 30 Sep 2026
• Shanti Learning Initiatives Private Limited a subsidiary from 12 Jan 2026

The scheme change in numbers

Intellectual property kept out of the slump sale

On 4 Nov 2026 the board of Shanti Educational Initiatives Limited approved a modification to the Composite Scheme of Arrangement it first approved on 2 Mar 2026. The scheme covers Shanti Learning Initiatives Private Limited, the transferee company, and Grew Energy Private Limited, the amalgamated company.

Under the change, the intellectual property of the transferor company, as defined in the scheme, does not form part of the transferred undertaking in the proposed slump sale to Shanti Learning Initiatives Private Limited. The intellectual property is retained by the transferor company and then vests in Grew Energy Private Limited on the proposed amalgamation.

Apart from this change, all other terms of the scheme, as approved earlier by the board, remain the same.

Results for the half year, with consolidated assets of ₹107.06 crore

The board also approved standalone and consolidated unaudited results for the quarter and half year ended 30 Sep 2026. The statutory auditors' limited review report contains no qualifications.

Standalone total assets were ₹87.82 crore at 30 Sep 2026, against ₹83.95 crore at 31 Mar 2026. Consolidated total assets were ₹107.06 crore against ₹101.05 crore, and consolidated total equity was ₹81.53 crore.

The consolidated results include Little Marvel Private Limited, UniformVerse Pvt Ltd and Shanti Learning Initiatives Private Limited. Before consolidation adjustments, one subsidiary with revenue of ₹11.07 crore for the half year was not reviewed by its auditor, and management furnished its figures.

What the scheme change means for Shanti Educational Initiatives' shareholders

The change moves the company's intellectual property out of the undertaking to be sold to Shanti Learning Initiatives Private Limited and routes it to Grew Energy Private Limited through the amalgamation. The filing does not say why the intellectual property was moved, or what consideration, if any, is attached to it.

The company says the financial impact of the New Labour Codes on its employee benefit obligation is not reasonably determinable at this stage, and no adjustment has been made. The scheme needs approvals from BSE Limited, the NCLT, the CCI and shareholders and creditors, and the filing gives no dates for them.