Main Disclosure – Asset Sale Details
Target Entity: Not applicable (sale of land property, not a subsidiary/associate)
Asset Description: Sale of land bearing Plot No. 14, Plot 15 and Plot No. 16, admeasuring 5213.40 Sq. Yards (4359.03 Sq. Mtrs, approximately 1.07 acres) together with buildings thereon. The property is situated in "Auto Nagar" of Bagh Hayathnagar, Ranga Reddy District, Telangana State.
Percentage Stake Disinvested: Not applicable (sale of physical assets, not equity stake)
Post-Transaction Holding: Not applicable (complete disposal of the specified land property)
Counterparty/Buyer: Vega Elite LLP (ACW-3745), a Limited Liability Partnership with registered office at Dr No. 40-15-10/2, MG Nandamuri Road, Moghalrajpuram, Vijayawada (Urban), Krishna, Andhra Pradesh-520010, India
Mode of Consideration: Cash
Valuation or Price Basis: Total sale consideration of ₹12,00,00,000 (Rupees: Twelve Crores only)
Rationale for Disinvestment: Sale of non-core assets
Impact on the Company: The disclosure states that the turnover/revenue contribution disclosure is not applicable as this is a sale of non-core assets (land property)
Business Profile of Target Entity: Not applicable (sale of physical assets)
Related Party Status: No. The buyer is an unrelated third party and does not belong to or related to any promoter/promoter group/group companies.
Approvals Required: The sale was approved by members under Section 180(1)(a) of the Companies Act, 2013 and Regulation 37A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 through a special resolution passed via postal ballot process on October 28, 2023.
Indicative Timeline:
- Agreement execution date: September 9, 2026
- Sale completion date: September 9, 2026
Regulatory Compliance: The disclosure is made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
Other Updates
No other disclosures are present in the document.