This intimation is in connection with and in revision of the earlier intimation given by the Company on 04th February 2026.
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Nirav Commercials' Board has approved a Business Transfer Agreement to sell its aluminium grills, doors and windows business (brand 'Elesar Focchi') as a going concern on a slump sale basis to Hind Aluminium Industries Ltd, a related party with common promoters. The Undertaking being sold contributes 99.16% of the company's revenue (₹9.64 crores) and 6.91% of net worth (₹2.11 crores). The agreed cash consideration is just ₹1.25 crores, with the company claiming it is at arm's length. Shareholders will be asked to approve this Material Related Party Transaction through a postal ballot, with completion targeted by March 31, 2026. Post-deal, the same promoter group will hold 66.47% of the buyer and 51.95% of Nirav Commercials.
Since the divested business makes up nearly all of the company's revenue, Nirav Commercials will effectively be left as a near-shell entity with no clear core operation. The remarkably low sale price (₹1.25 crores) versus ₹9.64 crores of revenue being transferred to a related party may raise minority shareholder concerns, even though the company states it is at arm's length. Retail investors should watch for the postal ballot outcome and any independent valuation report.