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Awaiting price reaction for this filing.
Banganga Paper Industries has received shareholder approval (via special resolution at an EGM on 14 January 2026) to sell its entire stake in its material subsidiary to three individuals — Mr. Karbhari Pandurang Dhatrak, Mrs. Jayashri Karbhari Dhatrak, and Mr. Chetan Karbhari Dhatrak — for a total consideration of approximately ₹11.22 crore. The sale agreement was signed on 17 December 2025. The material subsidiary contributed ₹58.10 crore, or 100%, of the company's turnover/revenue in the last financial year, making this effectively a sale of the company's entire operating business. All three buyers are promoters of the company, classifying this as a related-party transaction, which the company states was carried out at arm's length.
This is a major divestment — the subsidiary represents 100% of the company's revenue, so post-sale the listed entity will essentially be a shell with no operating business. The sale price of ₹11.22 crore for a business generating ₹58 crore in revenue looks like a significant haircut, which could raise concerns for minority shareholders about value extraction by promoters.