Facor Alloys Ltd — Updates, 03-06-2025: Company Update

The company has announced a board meeting to discuss the proposed sale of certain assets located at its Shreeramnagar plant, which has been shut down since October 2023. It has executed a non-binding MoU with Rawmat Mining and Minerals to sell these assets for ₹50 Cr (advance of ₹10 Cr received, representing 20% of the indicative asset value). The sale aims to address pressing financial liabilities and is expected to complete within a year, subject to approvals and due diligence. The buyer is independent of the promoter group. Shareholder approval through postal ballot is being sought.