Indian Card Clothing Company Limited — Important, 26-03-2025: Updates

The Board of Directors has approved several significant transactions. Firstly, the company plans to sell its commercial property in Coimbatore, measuring approximately 809.40 square meters, for at least ₹11.01 crore to buyers Mrs. Manisha Khemka and Mr. Yash Khemka. The sale deed is expected to be executed within 15 working days.

Additionally, the board approved a loan of ₹10 crore to Shriji Procon LLP to support working capital requirements. Furthermore, the company will acquire five commercial units in the "Jangid Trinity" commercial building in Borivali East, Mumbai, for a maximum of ₹15.49 crore. The sale agreements for this transaction are also expected to be executed within the same 15-working-day period.

Lastly, the company intends to invest ₹15 crore in CFM Asset Reconstruction Private Limited through subscription to Compulsory Convertible Preference Shares. These moves indicate a diversified strategy focused on asset sales, acquisitions, and investments, positioning the company for potential growth.