Ashima has finalised the sale of surplus land, not required for textile operations, admeasuring to 49125.40 square meters at an aggregate consideration of Rs 160.89 crore. The Empowered Committee at its meeting held on August 21, 2017 has finalised the same. This step has been taken to raise resources for revamping and modernizing company’s Textile operations, meeting requirements of working capital and repayment of other secured debts. Accordingly, requisite agreements for sale have been entered into for the purpose.
Ashima engages in the manufacture and sale of textile and related products in India. It offers fabrics, denims, cotton yarns, and shirting products.ASHIMA manufactures product groups like denim, high value yarn dyed shirting and attires.
