Ideal Spinning Mills Limited to Exit Spinning Segment Amid Market Challenges
Ideal Spinning Mills Limited (PSX: IDSM) has announced its plan to exit the spinning business by selling the majority of its plant and machinery dedicated to spinning operations. This decision was approved by the company’s board on July 11, 2025.
The move comes in response to ongoing market difficulties, including high production costs and weak demand for spun yarn. Despite discontinuing its spinning activities, the company will continue running its weaving and socks manufacturing divisions.
📅 Shareholder Meeting Scheduled
To finalize the proposed sale, Ideal Spinning Mills has called an Extraordinary General Meeting (EGM) for August 11, 2025, at 11:00 A.M. The meeting will be held at Room No. 404 & 405, 4th Floor, Business Centre, Mumtaz Hassan Road, Karachi.
The company also announced that its share transfer books will be closed from August 5 to August 11, 2025 (both days inclusive).
