Pradeep Metals Limited has executed an assignment deed for lease of land on June 16, 2026, in compliance with Regulation 30 read with Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Transaction Details
- Property Location: Plot No. C-234 & C-234/Part in Butibori Industrial Area, Village Limit of Wateghat, Hingna, Nagpur
- Land Area: 33,040.00 Square Meters
- Total Consideration: ₹14,00,00,000/- (Rupees Fourteen Crores Only)
- Counterparty: Dhanlabh Engineering Works Private Limited
Purpose of Agreement
The lease of commercial immovable property is for setting up a Greenfield Manufacturing Facility for precision-engineered defense components.
Related Party Disclosure
Mrs. Neeru Goyal, Non-Executive Promoter Director of Pradeep Metals Limited, is interested as Director/Shareholder in Dhanlabh Engineering Works Private Limited. This creates a related party relationship.
Transaction Nature and Approval
The transaction is characterized as being in the ordinary course of business and conducted at arm's length. This determination is based on an independent valuation report, and the transaction has been approved by the company's Audit Committee.
Additional Information
- No shareholding exists between the companies
- No significant special rights (director appointments, share subscription rights, capital structure restrictions) are applicable
- The disclosure is made pursuant to SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024