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GTN Industries approves Rs 10 crore share redemption and Rs 72 crore unit sale to GTN Engineering
05-Oct-2026, 03:33
GTN Industries Limited informed the BSE that its board approved the redemption of 10,00,000 0.01% Non-Cumulative Redeemable Preference Shares, totaling Rs 10 crore, from free reserves. Additionally, the board authorized M K Patodia, Chairman & Managing Director, to execute a final slump sale agreement for the Nagpur Spinning Unit of GTN Industries Limited to GTN Engineering (India) Limited for Rs 72 crore, aimed at mitigating operational losses due to subdued market demand and volatile cotton pricing; the transaction, considered a related party transaction, is expected to be completed by the end of December 2026.