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The board of Xpro India on Friday decided to convene an extraordinary general meeting on April 16 to seek shareholders’ approval to sell or otherwise dispose of its Biax division, Barjora Unit-I. The board approved a ‘term sheet’ to be executed for the unit to be disposed of on “as is where is” basis for ₹6.78 crore to East India Polyfilms Private Limited. The unit manufactures packaging grade BOPP films. The transaction is not a related-party transaction. The deal is expected to be completed by June. Shares of Xpro closed at ₹37.65, down 0.66 per cent, on the BSE.
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