Crescent Fibres approves Rs1bn sale of Nooriabad property

Crescent Fibres Limited has approved a Rs1.25 billion offer from Alkaram Spinning Mills (Private) Limited for its Nooriabad property, Mettis Global reported on November 12, 2026. The asset comprises around 14 acres of leasehold land and buildings covering 233,270 square feet in Nooriabad, District Jamshoro. The company’s board accepted Alkaram’s bid as the highest received.

Shareholders had authorised the disposal at an extraordinary general meeting on November 10, 2026, following a recommendation from the audit committee. Completion still depends on signing the sale agreement, receiving the payment, fulfilling transfer requirements and obtaining no-objection certificates from financial institutions. The transaction therefore remains subject to several outstanding steps.

The proposed disposal is relevant to Crescent Fibres investors because it concerns a sizeable company asset and a stated sale value of Rs1.25 billion. The company did not disclose in the report how it plans to use the proceeds.