Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, intimation is hereby given regarding the sale/disposal of the undertaking to Hind ....
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Nirav Commercials Ltd has approved selling its entire Aluminium business 'Elesar Focchi' to Hind Aluminium Industries Limited as a slump sale. The Aluminium business contributes 100% of the company's revenue, with income of Rs. 30.47 crore and networth of Rs. 9.73 crore as on March 31, 2025. The sale consideration is only Rs. 1.25 crore — a fraction of the business's networth — and the buyer belongs to the company's promoter group, making this a related-party transaction. The deal needs shareholder approval and is expected to complete by March 31, 2026. This effectively disposes of the company's only operating business, leaving a shell without core operations.
Minority shareholders should take note: the company is selling its entire revenue-generating business to a promoter-group entity for Rs. 1.25 crore against networth of Rs. 9.73 crore, which raises serious valuation and governance concerns. The stock may face downward pressure as the company will be left without operating revenue post-completion.