Oricon Enterprises Limited has successfully completed the transfer of its Petrochemical Unit assets located in Maharashtra to Narendra Plastochem Private Limited, as disclosed in a regulatory filing to the stock exchanges on October 15, 2025.

Key Details of the Asset Transfer

• Effective Date: October 15, 2025
• Seller: Oricon Enterprises Limited
• Buyer: Narendra Plastochem Private Limited
• Assets Transferred: Petrochemical Unit assets
• Location: Village Niphan and Anandwadi, District Raigad, Maharashtra

Transaction Background

The asset transfer was executed under an Asset Purchase Agreement, the details of which were not disclosed in the filing. This strategic move by Oricon Enterprises comes as part of its ongoing business restructuring efforts.

Regulatory Compliance

In adherence to regulatory requirements, Oricon Enterprises promptly informed both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) about this significant transaction. This disclosure aligns with the company's commitment to transparency and compliance with the Securities and Exchange Board of India (SEBI) regulations.

Impact and Outlook

While the financial terms of the deal were not revealed in the regulatory filing, this asset transfer is likely to have a notable impact on Oricon Enterprises' operational structure. Stakeholders and market analysts will be keenly observing how this divestment affects the company's future financial performance and strategic direction.

Company's Other Initiatives

In a separate announcement, Oricon Enterprises also informed shareholders about its participation in the 'Saksham Niveshak' campaign. This 100-day initiative, launched by the Investor Education and Protection Fund Authority and the Ministry of Corporate Affairs, runs from July 28, 2025, to November 6, 2025. The campaign aims to enhance shareholder awareness and encourage timely completion of KYC formalities, including updating PAN, bank account details, and nomination information.

Investors and stakeholders of Oricon Enterprises are advised to stay tuned for any further updates or disclosures regarding the asset transfer and its potential implications on the company's business operations and financial outlook.

Oricon Enterprises Limited has received a resounding approval from its shareholders for the sale and transfer of its Metal Crown Seals and Roll On Pilfer Proof Closures business to GUALA CLOSURES (INDIA) PRIVATE LIMITED. The special resolution, which proposed a slump sale of the business segment on a going concern basis, was passed through a postal ballot on September 16, 2025.

Voting Results

The voting results revealed overwhelming support for the transaction:

Out of a total of 157,047,715 shares, 100,580,394 votes were polled, representing a 64.04% turnout. The resolution received an astounding 99.99% approval, with only 5,637 votes cast against it.

Key Details of the Transaction

• The transaction involves the complete transfer of Oricon's manufacturing, trading, and sale business segment for Metal Crown Seals and Roll On Pilfer Proof Closures.
• The business will be transferred as a complete unit to GUALA CLOSURES (INDIA) PRIVATE LIMITED.
• The sale is structured as a slump sale, meaning the entire business segment will be transferred on a going concern basis.

Shareholder Composition and Voting Pattern

• Promoter and promoter group held 103,185,059 shares, of which 92,246,149 (89.40%) participated in the voting, all in favor of the resolution.
• Public non-institutional shareholders showed strong support with 99.93% voting in favor.
• Notably, public institutions holding 501,000 shares did not participate in the voting process.

Corporate Governance and Compliance

Oricon Enterprises has complied with the regulatory requirements by submitting the voting results and the scrutinizer's report to the stock exchanges. Ms. Mayuri Bharat Thakkar, a Practicing Company Secretary, acted as the scrutinizer for the postal ballot process.

This strategic move by Oricon Enterprises marks a significant shift in its business portfolio. The overwhelming shareholder approval suggests strong confidence in the company's decision to divest its Metal Crown Seals and Roll On Pilfer Proof Closures business to GUALA CLOSURES (INDIA) PRIVATE LIMITED.