NR Agarwal Industries’ board has approved the Asset Sale of Unit 2 (Writing & Printing) situated at Plot No.1, Phase I, GIDC, Vapi, District Valsad, Gujarat State to Shree Ajit Pulp and Paper subject to the approval of shareholders', banks and other regulatory authorities.
The aggregate consideration to be received from the sale transaction is Rs 99 crore subject to closing adjustments as may be mutually agreed between the parties, plus applicable taxes. The proposed closing date for sale transaction is February 28, 2022 or such other date as may be agreed by the parties in writing but not later than March 31, 2022. The Board of Directors of the company at its meeting held on October 14, 2021 has approved the same.
NR Agarwal Industries is an India-based company. The company is engaged in the business of manufacturing of paper boards and newsprint. The company's products include duplex board, news print, writing and printing and Kraft paper.
| Company Name | CMP |
|---|---|
| JK Paper | 375.20 |
| TN Newsprints | 140.05 |
| West Coast Paper | 492.00 |
| Emami Paper Mills | 75.24 |
| Seshasayee Paper | 270.95 |
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