Nexxus Petro Industries Limited has submitted Outcome of Board Meeting for Sale of Undertaking of the Company.Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations ....
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The board of Nexxus Petro Industries has approved the sale of a 3.99-acre land parcel at Khasra No. 555/36, Village Gajangadh, Pali, Rajasthan for ₹1.72 crore (book value ~₹1.43 crore). The land contributed about 16.97% of the company's FY25 turnover of ₹305.04 crore but is no longer operational and not part of ongoing business. The buyers are two individuals from Jodhpur, and the transaction is not a related party deal. The sale is expected to be completed on 30th March 2026 itself, as the agreement has already been registered with the sub-registrar.
This is a small, value-unlocking disposal of a non-core, non-operational asset, so it should have no material impact on the company's operations or stock price. Shareholders get a modest gain on book value (~₹0.29 crore) and removal of a dormant asset from the books.