GODFREY PHILLIPS INDIA LTD. - 500163 - Disclosure Of Events Or Information As Per Regulation 30 Of SEBI (LODR) Regulations 2015
Pursuant to Reg. 30 of SEBI LODR 2015 we wish to notify: Company has executed agreement(s) dt 11th Oct, 2022 with Vishnu & Company Trademarks Private Limited and its wholly owned subsidiary VLS Innovations Private Limited (both these parties hereinafter collectively referred to as 'Purchaser') to sell/assign (a) Trademarks along with all the rights, titles and interests therein and (b) certain non-current assets including the rights in the Leasehold Land; used in relation to the Chewing business of the Company for an aggregate sale consideration of Rs 80 (Eighty) crores. This sale/assignment is in line with Company's decision to exit from its Chewing business which was incurring losses and constituted less than 2% of total operating revenues of Company in financial year 2021-22. The Purchaser and its affiliates are engaged in business of Chewing Products such as pan masala, flavoured elaichi and chewing tobacco through its various brands and is not 'Related Party' to the Company.12-10-2022