Key Quantitative Figures

  • Divestment consideration: ₹61.00 crore for 100% shareholding in Premier Tissues (India) Limited (PTIL)
  • PTIL financial contributions for FY ended 31-03-2026:
  • Turnover/revenue: ₹95.74 crore (15.68% of consolidated turnover)
  • Net worth: ₹51.49 crore (16.59% of consolidated net worth)

Parties Involved

  • Subsidiary being divested: Premier Tissues (India) Limited (PTIL)
  • Proposed Purchaser: Finquest Personal Care Pvt. Ltd. (CIN: U20230MH2026PTC471920)
  • Registered address of purchaser: 602, Boston House, Suren Road, Andheri East, Mumbai - 400 093
  • Nature of purchaser's business: Personal Care
  • Associated with promoter/promoter group: Yes
  • Company officials: Mr. Hardik Patel (Chairman), G. Krishna Kumar (Managing Director, DIN: 01450683)

Purpose and Rationale

  • To preserve and deploy financial resources towards core rubber-thread business
  • Avoid time and costs associated with fresh sale process
  • Certainty of offer with no further due-diligence requirement
  • Immediate funding requirements of PTIL

Transaction Details

  • Sale of 100% of PTIL's issued and paid-up equity share capital
  • Basis: "as is where is" basis without further due diligence
  • Consideration basis: Two independent registered valuer reports
  • Payment terms: Entire purchase consideration payable within 30 days from receipt of shareholder approval or last statutory/regulatory approval (whichever is later)
  • Post-completion: Proposed Purchaser to arrange funding for PTIL's capacity expansion and future business plan
  • PTIL will cease to be subsidiary upon completion

Governance Aspects

  • Mr. Hardik Patel disclosed interest and recused himself from deliberations and voting
  • Board authorized Company Secretary and designated officers to undertake necessary actions
  • Transaction subject to:
  • Shareholder approval
  • Statutory and regulatory approvals
  • Compliance with applicable laws
  • Finalization and execution of transaction documents

Additional Information

  • Disclosure available on company website: www.rubfila.com
  • Registered office of Rubfila: 16/953, NIDA, Meranpara Road, Kanjikode P.O, Palakkad - 678621, Kerala, India

#Tags: #RubfilaInternational #SubsidiaryDivestment #SEBIRegulation30 #CorporateRestructuring #Neutral