Oricon Enterprises Limited has informed the Exchange regarding Board meeting held on August 07, 2025.
ORICONENT · price
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The board of Oricon Enterprises, at its meeting on August 7, 2025, approved the sale of its Metal Crown Seals and Roll On Pilfer Proof Closures business (manufacturing, trading and sale) located at MIDC Murbad, District Thane, Maharashtra. The divestment will be carried out as a slump sale on a going concern basis, subject to shareholder approval via Postal Ballot and other necessary regulatory clearances. Managing Director Adarsh Somani and Executive Director B. K. Toshniwal have been authorized to sign and execute the required agreements and documents. Further details will be disclosed once the agreement is executed.
Shareholders should expect a Postal Ballot seeking their approval for this divestment. The move signals a strategic restructuring where the company is exiting a specific business vertical, which could free up capital but also reduces revenue diversification depending on the segment's contribution.