Aditya Birla Real Estate Limited announced the sale of machinery assets relating to processing, utility, and R&D operations of its textile plant in Bharuch, Gujarat. The Board of Directors approved the sale in a meeting held on January 21, 2025.
Key Details:
- Consideration Received: ₹40.97 crore (excluding GST)
- Book Value: ₹51.46 crore as of December 31, 2024.
- Sale Process: Conducted through e-auction and negotiation with buyers who are not part of the promoter group.
- Transaction Scope: This sale does not involve any unit or division; it is limited to machinery assets.
The sale is part of a larger initiative following the discontinuation of operations at the textile plant. The company had previously informed stakeholders in May 2024 about evaluating options for unused machinery. The remaining machinery related to the joint venture, Birla Advanced Knits Private Limited, is still under process, and details will be disclosed post-sale.
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