Business Update28 Mar 2026, 12:01 pm
Keerthi Industries Ltd. Approves Addendum to Business Transfer Agreement for Slump Sale of Electronics Business
AI Summary
Keerthi Industries Limited has disclosed the outcome of their Board Meeting, which took place on 28th March, 2026. The Board approved an addendum to the Business Transfer Agreement (BTA) for the purpose of a slump sale with Keerthi Holdings Private Limited (Formerly known as Hyderabad Bottling Co. Private Limited). The Electronics Business, which contributed 19.87% of the total income in FY 2024-25, is being sold for INR 36 Crore, excluding taxes. The proceeds will be used for repayment of bank facilities and unsecured loans. This transaction is a related party transaction, but it is being undertaken on an arm's length basis as per the Independent Valuation Report dated 29th May, 2025.
Key Highlights
- Keerthi Industries Ltd. approved an addendum to the Business Transfer Agreement (BTA) for a slump sale with Keerthi Holdings Private Limited.
- The Electronics Business, contributing 19.87% of total income in FY 2024-25, is being sold for INR 36 Crore, excluding taxes.
- Proceeds from the sale will be used for repayment of bank facilities and unsecured loans.
- The transaction is a related party transaction done at arm's length basis.
- The sale of the Electronics Business is outside the Scheme of Arrangement.