Business Update28 May 2025, 07:42 pm
Shree Rama Newsprint Ltd Disposing Equipment from Paper Division on Piecemeal Basis
AI Summary
Shree Rama Newsprint Ltd has announced the disposal of some equipment from its paper division on a piecemeal basis. The decision was made in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015. The equipment's sale is outside the Scheme of Arrangement and the company has obtained necessary approvals from shareholders. The sale is expected to be completed by 31st August 2025, with an aggregate amount of INR 1.91 Crore plus applicable GST to be received.
Key Highlights
- Shree Rama Newsprint Ltd is disposing some equipment from its paper division on a piecemeal basis.
- The sale is outside the Scheme of Arrangement and the company has obtained necessary approvals from shareholders.
- The expected date of completion of the sale is 31st August 2025.
- An aggregate amount of INR 1.91 Crore plus applicable GST will be received from the sale.
- The sale is not a related party transaction.