Oricon Enterprises Limited has announced the completion of its asset purchase agreement for the sale of its aluminium collapsible tubes manufacturing unit. The company disclosed this transaction under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on January 1, 2026.

Transaction Details

The manufacturing unit, situated at Plot No. A2/9 MIDC Murbad District, Thane, Maharashtra, has been sold to Precise Multitube Packaging for a total consideration of ₹2.38 crores. The buyer is located at Plot No. 8 Varad Datey Nagar, Gangapur Road, Nashik 422013.

Financial Impact

The divested manufacturing unit contributed significantly to Oricon Enterprises' operations during the financial year ending March 31, 2025. The unit generated a turnover of ₹17.79 crores, representing 3.34% of the company's total revenue for that period.

Regulatory Compliance

The company has confirmed that this transaction does not involve any related party dealings. The buyer, Precise Multitube Packaging, does not belong to the promoter group or any group companies of Oricon Enterprises. Additionally, the transaction does not qualify as a slump sale, making related amalgamation or merger disclosures unnecessary.

Transaction Structure

Oricon Enterprises has completed the entire transaction process, with assets transferred and full consideration received from the buyer. The company had previously intimated the stock exchanges about this proposed transaction on December 29, 2025, before finalizing the agreement on January 1, 2026.

This divestment represents Oricon Enterprises' strategic decision to optimize its asset portfolio by disposing of the aluminium collapsible tubes manufacturing operations while focusing on its core business activities.

Oricon Enterprises has announced the approval of an asset sale pertaining to its aluminium tube production operations located in Thane. This strategic corporate decision marks a significant development in the company's asset management approach.

Asset Divestment Details

The packaging sector company has approved the sale of assets specifically related to aluminium tube manufacturing operations. The assets in question are situated in Thane, representing a focused divestment of production capabilities in this particular location.

Strategic Implications

This asset sale approval reflects Oricon Enterprises' ongoing efforts to optimize its operational structure and streamline its manufacturing portfolio. The decision to divest aluminium tube production assets suggests a strategic realignment of the company's manufacturing focus and resource allocation.

The approval process completion enables the company to proceed with the asset transaction, potentially allowing for capital reallocation and operational restructuring. This move aligns with broader corporate strategies aimed at enhancing operational efficiency and focusing on core business segments.

Company Background

Oricon Enterprises operates in the packaging sector and has been involved in various manufacturing activities. The company's decision to approve this asset sale demonstrates its commitment to strategic portfolio management and operational optimization.

Conclusion

The completion of this asset sale approval process positions Oricon Enterprises to execute its divestment strategy while maintaining focus on its primary business operations and growth objectives.