KRBL Ltd Wins PACL Ltd Assets in Rs 402.86 Crore Deal, Shares Surge 3%
KRBL Ltd, a prominent Indian rice company, has emerged victorious in an e-auction conducted by the Justice (Retd.) R.M. Lodha Committee. The company has acquired immovable properties in Panipat, Haryana, belonging to PACL Ltd, for Rs 402.86 crore. The news has boosted KRBL's shares, which traded 3% higher on Friday, 3 October.
KRBL's winning bid of Rs 402.86 crore was significantly higher than the reserve price of Rs 104.1 crore. The acquisition is set to benefit KRBL's expansion plans, with the assets intended for establishing a plant, warehousing, and related activities, or partial monetisation. This strategic move comes amidst KRBL's robust financial performance, with a 32% year-on-year revenue rise to Rs 1,584 crore in the first quarter of FY26, driven by both domestic and export growth. However, the company faced a setback last month when independent director Anil Kumar Chaudhary resigned due to corporate governance concerns, leading to a temporary dip in KRBL's shares.
KRBL's successful bid for PACL Ltd's assets in Panipat, Haryana, signals the company's continued expansion and growth. With a strong financial performance and a diverse product portfolio, KRBL is well-positioned to leverage this acquisition for further business development. The company's shares have responded positively to the news, trading 3% higher on Friday, reflecting investors' confidence in KRBL's strategic decisions.
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