Transaction Details
The Board of Directors of 3M India Limited at its meeting held on June 26, 2026 approved:
- Sale of land admeasuring approximately 4.13 acres
- Building with built-up area of approximately 8,001 sq meters
- Location: Pimpri, Taluka Haveli, District Pune, Maharashtra
- Purchaser: M/s. Ranjangaon Bio Projects & Infra LLP (LLPIN: AAM2814)
- Registered office of purchaser: Office No. 201, Global Square, Deccan College Road, CTS No. 1505/2, Sr. No. 247+14B, Plot No. 2, Yerwada, Pune 411006
- Aggregate consideration: ₹82,00,00,000 (Indian Rupees Eighty-Two Crore Only)
- Terms: Subject to terms and conditions as may be agreed between the parties
Timeline
- Board approval date: June 26, 2026
- Definitive agreement execution expected: On or about June 29, 2026
- Expected completion date: On or about June 29, 2026
Operational Impact
No business operations of the Company are carried out on the said land and building being sold. The sale will not have any impact on the business operations of the Company.
Legal Classification
The sale does not constitute an undertaking or substantially the whole of the undertaking for the Company in terms of section 180(1)(a) of the Companies Act, 2013.
Related Party Status
The purchaser is not related to the Promoter, Promoter Group or Group Companies of the Company. The transaction does not fall within the ambit of Related Party Transactions. None of the Promoters, Directors, Key Managerial Personnel or their relatives are concerned or interested, financially or otherwise, in the transaction.
Financial Impact Disclosure
As per Annexure A disclosure:
- The transaction does not relate to sale/disposal of any undertaking
- No turnover/revenue/income or net worth contribution disclosed as the property is non-operational
- Aggregate sale consideration of ₹82 Crores to be received upon execution of definitive agreements
- Not a slump sale transaction
- Not part of any Scheme of Arrangement