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Awaiting price reaction for this filing.
Zenith Fibres had earlier approved the sale of 3,60,000 equity shares of Rainy Properties Pvt Ltd for a total consideration of Rs. 54 lakhs. Share Purchase Agreements were signed with 10 buyers in August 2024, of which 5 transactions were completed by October 2024. The remaining 5 buyers failed to fulfil their obligations despite extended timelines. As a result, the Company has terminated all the remaining Share Purchase Agreements with effect from September 18, 2025.
The termination means the Company will not receive the remaining sale proceeds from the unsold portion of its Rainy Properties stake. However, the financial impact is limited given the small total deal size of Rs. 54 lakhs, and it is unlikely to materially affect the stock price or business operations.