Ashima Limited — Important, 29-03-2025: General Updates

Ashima Limited has sold a parcel of land in Ahmedabad for ₹48 crores, following approval from its Board of Directors earlier in February. The land, previously associated with cotton textile operations, is no longer required after the closure of those operations in September 2024. Consequently, this sale is not expected to impact the company’s business operations. The transaction is set to proceed without regulatory pitfalls, and the buyer, Samsara Buildtech Private Limited, is unrelated to the promoter group. This divestment could be seen as a strategic step toward optimizing assets, potentially leading to a positive outlook among investors.