Athena Global Technologies Changes Strategy: Withdraws Debenture Issue, Approves Property Sale

Athena Global Technologies Ltd announced two important updates today. It has cancelled the proposed issue of non-convertible debentures of an amount of 1.50 billion rupees. In an independent move, the board sanctioned the sale or lease of a 150,000 square feet SEZ plot. These are indicative of some change in the financial strategy of the company as well as management of assets. Debenture issue withdrawal would be a reflection of a reappraisal of the funding requirement of the company or the conditions of the market, while the property move could be directed to maximizing real estate assets. All this would influence Athena Global Technologies' financial condition and future plans for growth.

 

Source: Reuters, February 25, 2025