We wish to inform you that the Board of Directors of the Company at its meeting held today i.e., 7th April, 2025 through Video Conferencing wherein Sale of Land and Building of Company s Naroli Embroidery unit has been approved. Press release for the same is enclosed herewith.
PIONEEREMB · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Pioneer Embroideries Limited's Board of Directors, at a meeting held on 7th April 2025 via video conferencing, approved the sale of the land and building belonging to its Naroli Embroidery unit. No financial details such as sale price or buyer identity have been disclosed in the filing. A press release regarding the transaction has been enclosed with the announcement for further reference.
The sale of the Naroli unit's real estate assets is a partial divestment of the company's embroidery operations, which could free up capital for the company. Shareholders should watch for further disclosures on the deal value and proceeds use.