Postal Ballot: Sale of Friction Business to RML 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, auto, rail and industrial applications) to Rane (Madras) Limited on a slump sale basis for Rs 370 Crores cash. E-voting runs from 10 July to 8 August 2026, cutoff 30 June 2026. Board says deal unlocks value, proceeds will fund growth and a special dividend, EPS-accretive, and strengthens balance sheet by exiting capital intensive segment.
Sale of friction unit for Rs 370 Cr unlocks value. Expected EPS-accretive, possible special dividend to shareholders, focus shifts to other businesses.