GOCL concludes the sale of its subsidiary, IDL Explosives Ltd to Apollo Defence Industries

GOCL Corporation Limited today announced the completion of the sale of its subsidiary, IDL Explosives Ltd to Apollo Defence Industries, thus completing the divestment process approved by shareholders early this year.

IDL Explosives Limited has manufacturing facilities in Rourkela and many other locations. Apollo Defence intends to expand and strengthen the business in line with its strategic plans in the rapidly growing Defence Sector.

With the completion of this divestment process, GOCL and the Hinduja Group will conclude its strategic exit from the explosives and detonator business portfolio. Last year, GOCL ceased operations at its Hyderabad plant as the nature of the business no longer aligned with the city's evolving metropolitan landscape. The company continues to hold substantial landbank and real estate assets across the country. It expects to complete the ongoing monetisation of its Hyderabad land in near future.

Following this divestment, GOCL, listed on the Indian stock exchanges, plans to evolve into an energy company in line with its long-term growth aspirations, per its stock exchange announcement dated August 29th 2025.

Shares of GOCL Corporation Limited was last trading in BSE at Rs. 322.60 as compared to the previous close of Rs. 325.80. The total number of shares traded during the day was 1940 in over 138 trades.

The stock hit an intraday high of Rs. 329.50 and intraday low of 317.80. The net turnover during the day was Rs. 629489.00.

Source : Equity Bulls

Keywords

GOCLCorporation INE077F01035 IDLExplosives SaleCompletion ApolloDefenceIndustries