Par Drugs and Chemicals Limited — Others, 06-12-2024: Shareholders meeting

Par Drugs and Chemicals Limited has announced a board meeting on December 31, 2024, to conduct an Extra-Ordinary General Meeting (EGM) via video conferencing. Key agenda items include the approval for the slump sale of the company’s assets, including land, buildings, and machinery, to PHAL-JIG Fine Chemicals for approximately ₹92.88 crore. The sale’s completion is expected by March 31, 2025. Additionally, the company aims to diversify into real estate, capital markets, and clean energy through alterations to its business objectives.

This strategic move could reposition the company towards potentially higher-growth sectors, fostering optimism among investors about future profitability, despite the immediate concerns related to the sale of established assets.