Super Spinning Mills Limited has informed the Exchange regarding Outcome of Board Meeting held on August 29, 2025.
SUPERSPIN · price
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On the reaction day the stock moved 1.2 pts less than Nifty Microcap 250 and 0.1 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Board of Directors of Super Spinning Mills, at its meeting on August 29, 2025, approved the sale of two portions of land and building at 'Elgi Towers', Puliakulam Road, Coimbatore. The first parcel of 17.14 cents is proposed to be sold to Mr. Sumanth Ramamurthi, a Promoter of the company. The second parcel of 4.28 cents is proposed to be sold to Elgi Electric and Industries Limited, which belongs to the Promoter Group. Both transactions qualify as material related party transactions and require shareholder approval. To obtain this approval, the Board has approved conducting a Postal Ballot, the notice for which will be filed with the stock exchanges later.
This is a related party transaction involving sale of company real estate to its promoter and promoter group entities. The outcome for shareholders will depend on the valuation and fairness of the sale price, which will be disclosed in the Postal Ballot notice. Such transactions are often viewed cautiously by minority shareholders, though they are not unusual for monetising non-core assets.