Ashima Limited sells land for Rs. 48 crores

Ashima Limited has sold land situated at Rakhial (sim), Taluka Maninagar, in the District of Ahmedabad and Registration Sub District of Ahmedabad - 7 (Odhav), bearing Final Plot No. 150/part, of Town Planning Scheme No. 10, admeasuring 8893 Sq. Mtrs. for a consideration of Rs. 48.00 Crores.

The proposal to sell the said land was approved by the Board of Directors earlier at its meeting held on 13th February 2025, as duly mentioned in our intimation about outcome of the said meeting of the Board by passing an enabling resolution to sell the land at a minimum value of Rs. 45.00 Crores.

The said land is part of land used earlier for the cotton textile operations and is no longer required after the closure of the cotton textile operations. Therefore, the said sale of land will not have any impact on the business operations of the Company.

Shares of Ashima Limited was last trading in BSE at Rs. 17.23 as compared to the previous close of Rs. 18.02. The total number of shares traded during the day was 212703 in over 1022 trades.

The stock hit an intraday high of Rs. 19.19 and intraday low of 17.01. The net turnover during the day was Rs. 3810198.00.

Source : Equity Bulls

Keywords

Ashima INE440A01010 LandSale