Rubfila International to divest subsidiary for ₹61 crore

Rubfila International Ltd announced that its Board of Directors has approved the divestment of its entire shareholding in its wholly-owned subsidiary, Premier Tissues (India) Limited (PTIL), to Finquest Personal Care Pvt. Ltd. The aggregate consideration for this transaction is ₹61.00 crore. The decision was made after considering valuation reports from two independent registered valuers and the company's strategic need to focus its financial resources on its core rubber-thread business. The divestment is subject to shareholder and other statutory/regulatory approvals. The consideration will be paid within 30 days of receiving the necessary approvals.