Announced Mon, 16 Mar · 12:53 IST

Sale of Step Down Subsidiary - Fine Papyrus Private Limited

Price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

-6.1%1-day move

₹287.50

prior close

₹285.00

base price

In-mkt

timing

5m10m15m30m1D2D3D4D5D7D15D1M2M3M

+0.0+0.0+0.0+0.0-6.1-4.0-11.1-9.6-16.7-20.0-22.0-5.2+13.0+42.6

Up moveDown movePending

AI summary

Nidhi Granites Ltd's wholly owned subsidiary, SPNP Paper and Pack Private Limited, has signed a Share Purchase Agreement to sell its 100% stake in Fine Papyrus Private Limited to NGL Corporation Private Limited for a cash consideration of ₹3.24 crore. Fine Papyrus, a step-down subsidiary engaged in paper and packaging, will cease to be part of the Nidhi Granites group once the deal closes, expected within 30 days. The transaction is not a related-party deal and no material government approvals are needed. The original cost of acquisition was at face value of ₹10 per share, indicating a profit on the sale.

Likely market impact

This is a non-core divestiture for Nidhi Granites, which is primarily a granites company. The sale of the paper and packaging step-down subsidiary streamlines the group structure and brings in ₹3.25 crore in cash, which is modest in scale and unlikely to materially move the stock price.