Par Drugs and Chemicals Limited — Important, 31-12-2024: Updates

An Extra Ordinary General Meeting (EGM) was held to discuss key business decisions, including a special resolution for the slump sale of the existing establishment (land, building, plant & machinery, specific current assets & liabilities) with an approved consideration of Rs. 92.88 Crore. The transaction is set for execution by December 31, 2024, with completion expected between September 30, 2025, and December 31, 2025, pending necessary approvals.

Additionally, a resolution was passed to diversify into real estate and construction, as well as clean and renewable energy sectors, signifying a strategic shift in the company's focus. The buyer, PHAL-JIG Fine Chemicals Private Limited, is associated with the company's promoters, indicating a related party transaction conducted at arm's length. This repositioning suggests a positive outlook for the firm, creating potential growth opportunities in emerging markets. Final voting results will be reported to the National Stock Exchange within two working days.