Konark Synthetic Ltd completes sale of property for Rs. 7 crores

Konark Synthetic Ltd has completed the sale of its property situated at Plot No. 25, Silvassa Industrial Co-op. Society, 66 KVA Sub Station Road, Village Amli, District: Silvassa - 396230 on July 15, 2025, to M/s. Amar Texoweaves LLP for a total consideration of Rs. 7.00 Crores (Rupees Seven Crores only).

The said transaction was duly approved by the shareholders of the Company in their meeting held on May 15, 2025, by passing the necessary resolution.

The sale of the said property is being undertaken with aview to monetize the same for strengthening the Company's financial position by reducing its outstanding debt obligations thus reducing its overall finance cost.

In line with the Company's strategic focus on operational efficiency and financial prudence, the Board, based on the recommendation of the Audit Committee, has decided to monetize said assets. The prevailing market conditions provide an opportunity to realize a decent value for the said property. Additionally, the Company may explore the option of leasing back the same property post-sale or lease another property, to ensure continuity of business activities without long-term capital tie-up.

Shares of KONARK SYNTHETIC LTD. was last trading in BSE at Rs. 32.80 as compared to the previous close of Rs. 33.20. The total number of shares traded during the day was 1 in over 1 trades.

The stock hit an intraday high of Rs. 32.80 and intraday low of 32.80. The net turnover during the day was Rs. 32.00.

Source : Equity Bulls

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KONARKSYNTHETIC INE517D01019 PropertySale