Sale14 May 2025, 01:54 pm
Aditya Birla Real Estate Ltd Approves Sale of Textile Division Machineries at Jhagadia Plant
AI Summary
Aditya Birla Real Estate Ltd (ABREL) announced the sale of remaining machineries of the Textile division, specifically relating to Spinning, Yarn dyeing and Processing, at its plant in Jhagadia, Bharuch, Gujarat. The decision was made during the Board of Directors meeting held on May 14, 2025. The sale is expected to fetch a total consideration of Rs. 22.15 crores (without GST), with the book value of the machineries being Rs. 41.06 crores as on March 31, 2024. The sale was conducted through e-auction and negotiation to various parties who do not belong to the promoter and promoter group. The sale is not a part of any related party transactions or Scheme of Arrangement.
Key Highlights
- Aditya Birla Real Estate Ltd approves the sale of Textile division machineries at Jhagadia plant.
- The sale includes Spinning, Yarn dyeing and Processing machineries.
- The sale is expected to generate a consideration of Rs. 22.15 crores (without GST).
- The sale was conducted through e-auction and negotiation.
- The sale is not a part of any related party transactions or Scheme of Arrangement.