Galaxy Agrico Exports Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 27/10/2025 ,inter alia, to consider and approve (a) To consider, and ....
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Galaxy Agrico Exports Ltd has called a Board Meeting on 27 October 2025 to consider and approve the Draft Slump Sale Agreement for selling its entire business undertaking — comprising manufacturing and trading of Agricultural Equipments and Bearings (Forged Rings) — as a going concern to Forgex Rings Private Limited, a non-related entity. The slump sale (under Section 2(42C) of the Income-tax Act, 1961) includes transfer of all assets, liabilities, licences, employees, and contracts related to this business. Members had already approved the transaction at the AGM held on 29 September 2025. The company will share further details on the deal consideration and post-sale plans after the meeting concludes.
This is a significant event — the company is selling its core operating business, which could effectively make the listed entity a shell company post-deal. Shareholders should watch closely for the slump sale consideration, valuation fairness, and any announcements about what the listed entity plans to do with the sale proceeds (dividend, buyback, or new business).