Shanti Spintex Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 09/05/2025 ,inter alia, to consider and approve This is with reference to our ....
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Shanti Spintex Ltd has revised its Board Meeting intimation for 09 May 2025 to add a major agenda item: considering and approving the acquisition of 100% equity shares of Teesta Spintex Private Limited, which would become a wholly owned subsidiary. The Board will also review the registered valuer's valuation report, approve the draft Share Purchase Agreement, and authorize signatory powers. The transaction is classified as a Related Party Transaction under the Companies Act and SEBI LODR norms. Separately, the Board will consider audited financial results for FY ending 31 March 2025 and other routine compliance matters from the original intimation.
If approved, this acquisition will fully consolidate Teesta Spintex into Shanti Spintex's operations, potentially expanding its spinning business capacity. Shareholders should watch for the valuation details and any related-party disclosures once formally announced, as this could affect earnings and shareholding structure.