La-Gajjar Machineries Pvt Ltd approves sale of business

The Board of Directors of La-Gajjar Machineries Private Limited (LGM), Wholly Owned Subsidiary of Kirloskar Oil Engines Limited, in its meeting held on 19th June 2025 approved the proposal for sale and transfer of its 'Cables, Wires & Pipes business' by way of Slump Sale on a going concern basis to M/s Vira Logistics, a partnership firm having its office situated at Plot no. 2320/2/A, All Mighty Gate, GIDC Lodhika, Metoda, Rajkot, Gujarat 360035 ("Buyer"), at an aggregate consideration of Rs. 10.70 Crores subject to closing adjustments. The slump sale, pursuant to the business transfer agreement is expected to be completed by 30th June 2025, or such other date as may be mutually agreed between the parties. The Buyer is not related to promoter/ promoter group of LGM.

Shares of Kirloskar Oil Engines Limited was last trading in BSE at Rs. 835.50 as compared to the previous close of Rs. 854.55. The total number of shares traded during the day was 12726 in over 1221 trades.

The stock hit an intraday high of Rs. 861.05 and intraday low of 833.05. The net turnover during the day was Rs. 10758645.00.

Source : Equity Bulls

Keywords

KirloskarOilEngines INE146L01010 LaGajjarMachineries AssetSale ViraLogistics