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Menon Bearings informs about outcome of board meeting

23 Mar 2024 Evaluate

Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’), Menon Bearings has informed that the Board of Directors of the Company at its meeting held today 23rd March, 2024, considered the following matters: (1) approved the proposal to transfer Company’s business undertaking comprising of ‘Aluminium Division’ by way of ‘Slump Sale’ as a going concern to Menon Alkop (‘MAL’), Wholly Owned Subsidiary of the Company, for an overall purchase consideration of Rs 20.00 Crores and the MAL shall, in turn, settle the purchase consideration by issuing 8,25,00,000 equity shares of Re 1 each at a premium of Rs 1.42 per share to the Company, subject to shareholders’ approval of the Company; and Details as required under Regulation 30 of the Listing Regulations read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13.07.2023 are enclosed and marked as Annexure I. (2) Decided to seek shareholders’ approval for the proposed Slump Sale through Postal Ballot Process. The meeting of the Board of Directors commenced at 11:00 am and concluded at 12:45 pm.

The above information is a part of company’s filings submitted to BSE.


Menon Bearings Share Price

125.90 -1.95 (-1.53%)
17-Apr-2026 16:59 View Price Chart
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