Aarvee Denims -; Exports to sell remaining 5 windmills with aggregate capacity of 7 MW

9 Feb 2022 , 09:23 AM

Aarvee Denims & Exports Ltd has informed to the exchanges regarding the sale of remaining five windmillls of the company.

In a regulatory filing, the company said that it is in the process of selling remaining 5 windmills with an aggregate capacity of 7 MW out of the total 14 windmills installed by the company at various locations in Gujarat.

The sale will be effected as and when the company obtains the requisite consents/permissions from the related authorities. The said windmills are not encumbered or charged to any banks. The company will be utilising the net sale proceeds mainly for the purpose of reduction of the debt owed by the company to the banks.

At around 9:24 AM, Aarvee Denims & Exports was trading at Rs28.90 apiece down by Rs0.5 or 1.7% against previous closing of Rs29.40 apiece on the BSE.