Business Update28 March 2026 at 07:32 am
Keerthi Industries Ltd. Completes Slump Sale of Electronics Division to Keerthi Holdings Private Limited
AI Summary
Keerthi Industries Ltd. has completed the slump sale of its Electronics Division to Keerthi Holdings Private Limited (Formerly known as Hyderabad Bottling Co. Private Limited) as of 31st March, 2026. The agreement for the sale was entered into on 29th May, 2025, and the consideration for the sale is INR 36 Crore, excluding all applicable taxes. The proceeds from the sale will be used for the repayment of bank facilities and any remaining balance will be used for repayment or adjustment of unsecured loans of the company.
Key Highlights
- The Electronics Business contributed 19.87% of the total income of the Company in FY 2024-25.
- The sale of the Electronics Business is a Related Party Transaction as classified under Section 2(76)(iv) of the Related Party definition under the Companies Act, 2013.
- The sale and transfer of the Electronics Business is being undertaken on Arm’s length basis as per the Independent Valuation Report dated 29th May, 2025.
- The proposed sale of Electronics Business is being undertaken by way of a ‘slump sale’ through a Business Transfer Agreement and is outside the Scheme of Arrangement.
- Necessary disclosures required as per Regulation 37A of the Listing Regulations shall be made in the Notice of Postal Ballot for obtaining the approval of the shareholders by way of a special resolution, for the sale of the Electronics Business.