We would like to inform you that on the recommendation of the Audit Committee, the Board of Directors at their meeting held on 28.05.2025 has decided to infuse funds for augmenting working ....
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The Board of Directors of Lakshmi Mills Company Ltd, at their meeting held on 28.05.2025 and on the recommendation of the Audit Committee, has approved a plan to raise funds up to Rs. 70 Crores. The funds will be raised by disposing of non-core business assets, including unused land and buildings, and/or by selling investments in the company's own shares. The proceeds will be used to augment working capital, fund the proposed 3rd phase of the company's Rental Services project, and meet other business purposes. The disclosure has been made under SEBI Listing Regulations.
This move aims to unlock value from idle or non-core assets to support growth in the rental services business and strengthen working capital. Shareholders should note that asset sales of this scale could meaningfully reshape the company's asset base and future earnings profile.