Bombay Dyeing gets nod for sale of Pune unit

Shares of Bombay Dyeing will remain in focus as it has received shareholders’ approval for the proposed sale of its Pune textile unit. The Wadia group plans to sell the textile processing unit at Ranjangaon in Pune on a slump-sale basis for ₹230 crore to Oasis Procon Pvt Ltd. Interestingly, 61 per cent of the institutional investors have voted against the proposal though majority (97 per cent) of public investors voted in favour of the sale.