Transaction Details
The company is planning to acquire leasehold industrial land for future expansion. The land is situated in Sector-7, Pithampur, Madhya Pradesh.
Counterparty
The land will be acquired from the Madhya Pradesh Industrial Development Corporation (MPIDC).
Consideration
The total consideration for the acquisition is approximately ₹7.5 Crore (Rupees Seven Crore Fifty Lakhs).
Purpose and Rationale
The acquisition is in line with the company's long-term expansion strategy and is expected to:
- Strengthen/augment its operational capabilities
- Undertake capacity expansion
- Diversify its product portfolio
- Support future business opportunities
Shareholding and Related Party Status
- The company holds no shareholding in MPIDC (Nil).
- None of the sellers belong to the promoter/promoter group/group companies.
- The transaction does not fall within related party transactions.
Transaction Structure
- The transaction does not involve issuance of any shares.
- The acquisition is not part of any Scheme of Arrangement.