Somany Ceramics Limited has informed the Exchange about Diversification/Disinvestment
SOMANYCERA · price
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Somany Ceramics has announced an update on the previously approved sale of its entire equity stake in associate company Acer Granito Private Limited (AGPL). The original Share Purchase Agreement was dated 4th February 2025 with an expected completion timeline of 15 months. 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 timeline by 9 months from 4th May 2026, subject to compliance with revised payment terms as mutually agreed. The transaction is still expected to proceed to completion.
The deal is proceeding but with revised terms, indicating the buyers may be facing cash flow challenges given the request for extended payment schedule with interest. This delays cash inflow for Somany Ceramics but the deal itself remains intact.