Image Source : Machine Maker
Lakshmi Machine Works (LMW) has approved the sale of its 9.77% stake in Super Sales India Ltd, marking a key portfolio adjustment in the textile sector. This move, cleared by the board, aims to optimize holdings amid evolving market dynamics, potentially unlocking value for shareholders. Transaction details remain pending finalization.
Show more
Transaction Background
LMW Ltd, a leading textile machinery manufacturer, holds a significant stake in Super Sales India, a spinning and agency firm. The approval for divesting 9.77% reflects strategic realignment, possibly to focus on core operations or capitalize on valuations—Super Sales trades around ₹950 with a market cap of ₹282 Cr. LMW's market cap stands at ₹16,600 Cr, underscoring its dominant position. This comes amid steady textile demand but sector pressures.
Key Highlights
-
Stake Size: 9.77% in Super Sales India Ltd, a Tamil Nadu-based textile spinner.
-
Approval: LMW board greenlights sale; process via stock exchange or private placement.
-
Rationale: Portfolio optimization; LMW promoters hold 30.8%, with focus on machinery growth.
-
Market Context: Super Sales at ₹954 (Dec 12 close); LMW at ₹15,539, up modestly YTD.
-
Implications: Potential cash influx for LMW expansions; boosts liquidity in Super Sales shares.
Sources: Bajaj Finserv, ICICI Direct, Screener.in
Stay Ahead – Explore Now!
Mahanagar Gas Faces Profitability Squeeze as APM Gas Allocation Cut by 18%, Replaced with Costlier New Well Gas
Advertisement
STORIES YOU MAY LIKE
Image Source: KNN India
Advertisement