Prism Johnson board approves sale of industrial premises to JSW Steel for Rs 164.63 crore

Prism Johnson Limited has recently informed exchanges that its board has approved the terms and conditions for the sale of a part of its industrial premises located at the tile plant in Pen, Dist. Raigad, Maharashtra, to JSW Steel Limited.

This strategic transaction, valued at Rs. 164.63 Crores, is expected to be completed on or before February 8, 2025. The sale is part of the company’s plan to monetize a portion of its industrial assets, which will not negatively impact its HRJ Division. The proceeds from this sale will primarily be directed towards debt repayment, supporting the company’s financial stability.

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The transaction will be carried out on an “as is where is” basis, and JSW Steel Limited is not related to the promoter or group companies of Prism Johnson Limited. Additionally, the deal does not qualify as a related party transaction under SEBI regulations.

This move marks a significant step in Prism Johnson’s ongoing strategy to optimize its assets while strengthening its balance sheet. For investors, the proceeds from this transaction are seen as a positive development, contributing to the company’s long-term growth prospects.