we would to like to inform you that the company has completed the sale of the plant and machinery.
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Awaiting price reaction for this filing.
Pratiksha Chemicals has completed the sale of its Plant and Machinery, Land and Building located at Survey No. 195/2/1, Village Vasna Iyava, Taluka Sanand, District Ahmedabad, Gujarat. The sale was carried out pursuant to shareholder approval obtained through a postal ballot, the results of which were declared on January 6, 2025. The filing is made under Regulation 30 of SEBI LODR, 2015 as an intimation of completion of the asset sale. The description refers to this as a sale of a 'substantial undertaking' of the company.
This is a significant structural event for shareholders, as the company has divested its manufacturing facility and related fixed assets, which likely formed its core operating base. Investors should watch for follow-up disclosures on the use of sale proceeds, any change in business direction, and whether the company plans to continue operations or pivot to a different model.