| <p>PFL is facilitating an investment of USD 100 million in two of its subsidiaries, BHL and Brahma India, through Multiples Private Equity Gift Fund IV and Multiples Private Equity Fund IV, in the form of Compulsorily Convertible Preference Shares. BHL will receive USD 54.36 million, while Brahma India will receive USD 45.64 million, intended to strengthen their financial positions. The transaction, entered into on September 23, 2026, qualifies as a related party transaction and is structured at arm’s length, but requires shareholder approval and satisfaction of other unspecified conditions before completion. Following the investment, PFL will cease to exercise control over the subsidiaries, although it will retain 65.67% economic ownership of BHL; BHL reported a net worth of INR 1,863.99 Crores and Brahma India reported a turnover of INR 202.84 Crores as of fiscal year 2025-26.</p> |