Super Spinning Mills Limited has informed the Exchange regarding Outcome of Board Meeting held on Jun 18, 2025.
SUPERSPIN · price
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On the reaction day the stock moved 0.9 pts more than Nifty Microcap 250 and 0.6 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 their meeting on June 18, 2025, approved selling, leasing, or otherwise disposing of the land and building at 'Elgi Towers' in Coimbatore, which serves as the company's registered and central office. The property contributed Rs. 48.40 lakhs in revenue (7.30% of total) and Rs. 1164.36 lakhs to net worth (25% of total) as per audited financials for FY25. No buyer has been identified yet, and the company stated the consideration will not be less than prevailing market price. The transaction is not a related party deal and is outside any scheme of arrangement. Shareholder approval will be sought through a postal ballot under Section 180(1)(a) of the Companies Act, 2013, and Regulation 37A of the Listing Regulations.
The proposed disposal could unlock value for shareholders since the property accounts for 25% of the company's net worth, but no buyer or price has been finalized yet. The move is subject to shareholder approval, so the actual impact on the stock will depend on the sale price achieved and how proceeds are utilized.