Rasi Electrodes Limited disclosed the outcome of its Board of Directors meeting held on July 16, 2026. The Board approved the proposal to sell unencumbered landed property belonging to the company.
The property comprises vacant land measuring 227.7 cents (2.277 acres) located at Manjankaranai Village, Uthukottai Taluk, Tiruvallur District, Tamil Nadu, India. The land is registered in the company's name and consists of multiple survey numbers:
- 88 Cents in survey number 20513, patta number 212
- 47 Cents in new survey number 20514A, patta number 691
- 45.7 Cents in new survey number 20413A, patta number 692
- 47 Cents in new survey number 20412, patta number 692
The total consideration for the sale is ₹300 lakhs (rupees three hundred lakhs) to an identified purchaser who is not a related party. The sale will be executed through an Agreement for Sale with specific terms and conditions.
The Board noted that shareholder consent had been obtained through Postal Ballot and Electronic Voting under Section 180(1)(a) of the Companies Act, 2013. The Audit Committee of the Board had evaluated and recommended the proposal earlier the same day, which the Board considered in its own evaluation.
The company will file a separate disclosure under Regulation 30 of the SEBI (LODR) Regulations, 2015, as the event is considered material by the Board.
The Board meeting commenced at 11:30 AM and concluded at approximately 1:00 PM on July 16, 2026.