Ganesh Benzoplast : Signs ₹1,154 Crore Asset Sale Agreement

Ganesh Benzoplast Limited (GBL) has entered into definitive agreements to sell its Liquid Storage Tank and Railway Network businesses to Cisternina Logistics Private Limited (CLPL), a bulk liquid and gas storage and logistics platform majority-owned by funds managed and advised by global investment firm KKR. The aggregate transaction value is set at INR 1,154 crore, subject to terms specified in the agreements. In addition to the primary sale, GBL has secured a complementary Engineering, Procurement, and Construction (EPC) agreement with CLPL valued at approximately INR 280 crore (excluding taxes), providing a significant immediate booster to GBL’s service division. GBL plans to deploy the proceeds into several key strategic avenues: *Chemical Manufacturing Expansion: Expanding installed capacity and product categories for specialty chemicals, food preservatives, and lube oil additives. *Chemical Trading: Building new scale and market presence under "Make in India" opportunities. *High-Value EPC Operations: Leveraging GBL’s existing engineering expertise to execute complex, higher-margin EPC contracts. *Shareholder Value Enhancement: Evaluating corporate actions, including share buybacks, in compliance with regulatory provisions to deliver direct returns to investors.