In continuation of our earlier intimation dated 15th January, 2025, an update on Disinvestment of Company''s equity stake in Acer Granito Private Limited, an associate company.
SOMANYCERA · price
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Somany Ceramics is providing an update on its previously announced sale of entire equity stake in Acer Granito Private Limited (AGPL), an associate company. The original Share Purchase Agreement was dated February 4, 2025, with a 15-month completion timeline. The Promoter/Purchasers of AGPL have now requested a revised payment schedule with applicable interest and an extension of timelines. The company has agreed to extend the completion deadline by 9 months from May 4, 2026, subject to compliance with the revised payment terms as mutually agreed. The transaction remains on track but with adjusted timelines and payment structure.
This extension suggests the buyer may be facing temporary liquidity constraints, requiring interest-bearing revised payment terms. While the deal appears intact, the delay adds execution uncertainty and potential cash flow impact for Somany Ceramics until the stake sale is fully completed.