Super Spinning Mills has announced a board meeting on the approval to sell, lease, or otherwise dispose of the land and building at "Elgi Towers," Coimbatore.

The proposal awaits shareholder approval via a Postal Ballot.

The asset contributes ₹48.40 lakhs (7.3%) to revenue and ₹1164.36 lakhs (25%) to net worth based on the last financial year.

The company has yet to finalize the buyer, but the transaction will be at or above market value and not involve promoter-related parties.

Completion is subject to necessary approvals.