CIL Nova Petrochemicals Limited to sell Polyester Yarn Unit

The Board of Directors of CIL Nova Petrochemicals Limited at its Meeting held today, i.e. on 31st March, 2023, on shorter notice have approved the sale/dispose off the Polyester Yarn Unit of Company situated at through Slump Sale via Business Transfer Agreement (BTA), subject to the Survey No. 396 (P), 395/4 (P), Moraiya Village, Sarkhej - Bavla Highway, Tal. Sanand, Ahmedabad, Gujarat, 382210 approval of Shareholders, Banks, Courts, Tribunal, Regulators, if any and any other matter consequential and incidental thereto.

The proposed sale/disposal of the assets will be valued by Chartered Engineer/Valuer, consideration will be decided based on receipt of final report.

Shares of CIL NOVA PETROCHEMICALS LTD. was last trading in BSE at Rs. 18.14 as compared to the previous close of Rs. 18.90. The total number of shares traded during the day was 4750 in over 40 trades.

The stock hit an intraday high of Rs. 19.84 and intraday low of 18.14. The net turnover during the day was Rs. 93454.00.

Source : Equity Bulls

Keywords

CILNOVAPETROCHEMICALS INE672K01025 Sale PolyesterYarnUnit