Sale5 Oct 2026, 03:09 pm
GTN Industries Approves Slump Sale of Nagpur Unit for ₹72 Cr
AI Summary
GTN Industries Ltd's Board of Directors has approved the slump sale of its Nagpur Spinning Unit to GTN Engineering (India) Limited for ₹72 Crores. The sale aims to mitigate widening operational losses due to subdued market demand and volatile cotton pricing. The transaction is expected to reduce the company's operating turnover while improving net worth and profitability by eliminating recurring operating drag. The Board also approved the redemption of 10,00,000 Non-Cumulative Redeemable Preference Shares aggregating to ₹10 Crores. The slump sale is expected to be completed by the end of December 2026.
Key Highlights
- GTN Industries approves slump sale of Nagpur Spinning Unit for ₹72 Crores.
- Sale aims to mitigate operational losses and improve profitability.
- Preference shares worth ₹10 Crores to be redeemed.
- Transaction is a related party transaction with GTN Engineering (India) Ltd.
- Slump sale expected to complete by December 2026.
Price Impact
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