IP Rings acquires JV's manufacturing business via slump sale for Re 1

IP Rings has signed a Business Transfer Agreement to buy the manufacturing division of its 50 percent joint venture, IPR Eminox Technologies, through a slump sale on a going concern basis. The division makes Exhaust After Treatment Systems and posted FY26 turnover of Rs 39 crore. IP Rings will take over fixed assets of Rs 2.67 crore, working capital of Rs 2.08 crore, and bank liabilities of Rs 3.45 crore, all for a token Re 1 consideration based on an MCA approved valuer report. A separate Licensing and Technical Support Agreement covers design development. The deal is a related party transaction done at arms length with no impact on management or control.