Postal Ballot for sale of Friction Business to Rane (Madras) for Rs 370 Cr
HINDCOMPOS · price
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Hindustan Composites is seeking shareholder approval via postal ballot to sell its Friction Business Undertaking (brake linings, pads, clutch facings, discs, etc.) to Rane (Madras) Ltd on a slump sale basis for Rs 370 Crores in cash. Plants at Paithan and Bhandara in Maharashtra are part of the deal. The company says the sale unlocks embedded value, simplifies its portfolio, avoids a major capital spending cycle, and is expected to be EPS-accretive. A portion of the net proceeds may be returned to shareholders as a special dividend. Voting runs from 10 July to 8 August 2026; results on 11 August 2026.
Large Rs 370 Cr asset divestment; cash inflow may fund a special dividend; portfolio simplification, expected to boost EPS over time.