Galaxy Bearings Limited submitted an update to its previous disclosure dated June 11, 2026, made under Regulation 30 of SEBI (LODR) Regulations, 2015, regarding the proposed purchase of agricultural land.
The company made a further advance payment of ₹1,00,00,000 (Rupees One Crore Only) to the proposed seller, Mr. Samjibhai Pragajibhai Dhameliya, on August 27, 2026. This payment was made through banking channels and will form part of the consideration for the proposed acquisition.
With this additional payment, the aggregate advance paid by the company now stands at ₹4,76,00,000 (Rupees Four Crore Seventy-Six Lakh Only), revised from the previously disclosed amount of ₹3,76,00,000.
The land in question is agricultural land situated at Old R.S. No. 254, New R.S. No. 422/3, admeasuring approximately 7,588 sq. meters, located at Village Shapar, Taluka Kotda Sangani, District Rajkot, Gujarat.
The transaction remains under evaluation and is subject to due diligence, finalization of commercial terms, execution of definitive documents, and applicable statutory approvals. No sale deed or transfer of ownership has been executed as of the disclosure date.
The company confirmed that all other disclosures and information contained in its earlier communications dated May 02, 2026 and June 11, 2026 remain unchanged. Galaxy Bearings committed to keeping the stock exchange informed of any further material developments in accordance with applicable laws and regulations.
The disclosure was signed by Bhumika Mukeshkumar Teli, Company Secretary and Compliance Officer, from Ahmedabad.