Disclosure Under SEBI LODR Regulations
Rasi Electrodes Limited has made a disclosure to The Stock Exchange, Mumbai, under Regulation 30(a)(i)(c)(2) and Part B of Schedule III of the SEBI (LODR) Regulations, 2015, regarding a material transaction.
Nature of the Event
The Board of Directors, in their meeting held on July 16, 2026, approved the proposal to sell unencumbered landed property belonging to the company. The Managing Director has been authorized to enter into an Agreement for Sale with the purchaser and conclude the transaction.
Transaction Details
- Asset Sold: Vacant land measuring a total of 227.7 cents (2.28 acres), situated at Manjankaranai Village, Uthukottai Taluk, Tiruvallur District, Tamil Nadu, India.
- Survey Details: The land is comprised of multiple parcels: 88 Cents in survey number 205/3 (patta number 212); 47 cents in new survey number 205/4A (patta no. 692); 45.7 cents in new survey number 204/3A (patta no. 692); 47 cents in new survey number 204/2 (patta number 692).
- Purchaser: An identified purchaser who is not a related party.
- Total Consideration: ₹300.00 lakhs (Rupees Three Hundred Lakhs only). The amount is realizable as per the terms and conditions in the Agreement for Sale.
Approvals and Process
The Board noted that shareholder consent for the transaction was already obtained through a Postal Ballot and Electronic Voting process conducted under Section 180(1)(a) of the Companies Act, 2013. The Board also took on record the evaluation and recommendation of the company's Audit Committee, which was held earlier on the same day (July 16, 2026), in addition to its own evaluation.
Financial Impact
- Sale Value: ₹300.00 lakhs
- Total Networth (as of March 31, 2026): ₹3885.24 lakhs (Rupees Thirty Eight Crores and Eighty Five Lakhs and Twenty Four Thousand only)
- Transaction as % of Networth: 7.72%
- Related Party Transaction: No
- Ordinary Course of Business: Yes