Aditya Ispat Ltd has approved the slump sale of its non-alloy steel manufacturing and trading business to Jai Bapji Ispat Pvt Ltd, a promoter group company, for INR 36.8 million. The move, subject to shareholder approval, aims to safeguard the company’s net worth and ensure survival.
Aditya Ispat Limited has announced a significant restructuring decision following its board meeting on February 23, 2026. The company will divest its non-alloy steel manufacturing and trading operations through a slump sale to Jai Bapji Ispat Pvt Ltd, a related party entity, at a lump sum consideration of INR 3.67 crore. The transaction, effective March 1, 2026, is contingent upon shareholder approval via postal ballot and regulatory clearances.
Key Highlights
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The slump sale unit contributed 97.75% of turnover and 88.85% of net worth in FY 2024-25
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Business Transfer Agreement to be executed on or before March 31, 2026
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Audit committee emphasized urgency to prevent further erosion of net worth and share capital
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Ernst & Young LLP appointed as consultants for tax and regulatory guidance
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Mr. Manjeet Bucha designated as scrutinizer for postal ballot and e-voting
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CDSL platform to be used for remote e-voting facility
This strategic move underscores the company’s efforts to stabilize financial health and restructure operations amid debt challenges.
Source: Aditya Ispat Ltd, Bombay Stock Exchange filing dated February 23, 2026