Soma Textiles & Industries Limited has informed the Exchange about General Updates
SOMATEX · price
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The board of Soma Textiles & Industries approved the sale of two motor vehicles — a Land Rover Range Rover Sport and a Porsche Cayenne V6 — to Sarvopari Investment Private Limited, which is a promoter shareholder of the company. Because the buyer belongs to the promoter group, this is a related party transaction and requires shareholder approval. The company will receive Rs. 2.49 lakh in cash along with the transfer of an outstanding vehicle loan of about Rs. 2.44 crore to the buyer. Management stated the vehicles are no longer required for business operations and that the deal was priced at arm's length based on offers from multiple parties. The sale is expected to be completed on or before September 30, 2025.
This is a minor, non-core asset disposal with no material impact on the company's business or financials. Shareholders should note the related party nature of the deal, though the company has disclosed arm's length pricing.