Outcome of the board meeting held on February 23,2026 under Reg 30 of SEBI(LODR) Regulations,2015
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board of Directors of Aditya Ispat Ltd has approved the slump sale of its entire non-alloy steel manufacturing and trading business to M/s. Jai Bapji Ispat Private Limited, a promoter group company, for a lump sum consideration of ₹3.68 crores. The business being sold contributed 97.75% of the company's turnover (₹43.93 crore) and 88.85% of its net worth (₹7.80 crore) in FY 2024-25, meaning the company is divesting nearly its entire operating business. The transaction is subject to shareholder approval via postal ballot, with execution expected by March 31, 2026. The Audit Committee noted the sale is necessary on an urgent basis to prevent further erosion of net worth and share capital, as the management could not find a non-related buyer due to high debts.
This is a significant distress-driven divestment where the promoter group is acquiring the company's core revenue-generating business at a steep discount (₹3.68 crores vs ₹43.93 crores turnover). Existing public shareholders face continued risk as the company's main business is being transferred to the promoter group, and the deal value relative to revenue suggests the company is in serious financial trouble. Shareholders should watch the postal ballot outcome and any open offer obligations triggered by this related party deal.