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Rossari Biotech Ltd ( (IN:ROSSARI) ) has provided an announcement.
Rossari Biotech has disclosed that the board of its material subsidiary, Unitop Chemicals Private Limited, has approved the sale of an office premises in Saki Naka, Mumbai, for approximately Rs 10 crore. The transaction is expected to be completed by the end of the second quarter of FY27.
The company clarified that no business operations are conducted from the property being sold, so the disposal will not affect the operating activities of either Rossari Biotech or the subsidiary. It also stated that the sale does not amount to the sale of an undertaking under the Companies Act, indicating limited strategic impact and primarily a balance-sheet rationalisation move.
More about Rossari Biotech Ltd
Rossari Biotech Ltd is a specialty chemicals company with operations in India, serving diverse industries through its subsidiaries, including Unitop Chemicals Private Limited. The group provides chemical solutions and related products, focusing on industrial and institutional customers across multiple market segments.
Average Trading Volume: 3,862
Technical Sentiment Signal: Sell
Current Market Cap: 23.76B INR
See more data about ROSSARI stock on TipRanks’ Stock Analysis page.