Deals29 May 2025, 06:22 pm
Keerthi Industries Ltd Approves Slump Sale of Electronics Division to Hyderabad Bottling Co Private Limited for INR 36 Crore
AI Summary
Keerthi Industries Ltd has approved the sale and divestment of its Electronics Division to Hyderabad Bottling Co Private Limited on a slump sale basis for an estimated consideration of INR 36 Crore. The transaction is subject to fulfilment of completion terms and conditions as specified in the Transaction Documents. The Electronics Division contributed 19.87% of the total income of the Company in FY 2024-25. The proceeds from the slump sale will be used for the repayment of Bank Facilities and any balance remaining shall be used for repayment/ adjustment of Unsecured Loans of the Company.
Key Highlights
- Keerthi Industries Ltd has approved the slump sale of its Electronics Division to Hyderabad Bottling Co Private Limited.
- The transaction is estimated to be completed by the end of the second quarter of FY 2024-25.
- The consideration for the sale is INR 36 Crore, excluding all applicable taxes.
- The proceeds from the slump sale will be used for the repayment of Bank Facilities and any balance remaining shall be used for repayment/ adjustment of Unsecured Loans of the Company.
- The Electronics Division contributed 19.87% of the total income of the Company in FY 2024-25.