Key Transaction Details

  • The Board of Directors of Tirupati Foam Limited approved the sale of surplus land and building at its meeting held on July 20, 2026.
  • The property being sold is Plot No. 5, Ecotech-I Extension, Greater Noida Industrial Area, District Gautam Budh Nagar, Uttar Pradesh 201308.
  • Land area measures approximately 9325 square meters.
  • Total consideration will be not less than ₹30 crore (Rupees Thirty Crore only), based on valuation report.

Operational Impact

  • Minimal business operations were carried out on the said land and building being sold.
  • Production has already been suspended and all machinery has been shifted to adjacent Plot 4.
  • The sale will not have any impact on the business operations of the Company.
  • The sale does not constitute sale of an undertaking or substantially the whole of the undertaking under section 180(1)(a) of the Companies Act, 2013.

Counterparty Details

  • Seller: Tirupati Foam Limited (TFL)
  • Proposed Purchaser: Neumann Components Pvt Ltd (CIN: U25202DL2002PTC116011)
  • Purchaser's Registered Office: No. 1/22 2nd Floor, Asaf Ali Road, New Delhi, Delhi, India 110002
  • The purchaser is not related to the Promoter, Promoter Group or Group Companies of the Company.
  • The transaction does not fall within the ambit of Related Party Transactions.
  • None of the Promoters, Directors, Key Managerial Personnel or their relatives are concerned or interested in the transaction.

Timeline and Approvals

  • The agreement will be executed after approval of shareholders in the upcoming 39th Annual General Meeting.
  • The transaction is proposed to be completed upon compliance with all applicable laws within a period of 6 months.

Financial Considerations

  • The proposed transaction pertains to sale of surplus land parcel with minimal production whose margin rate cannot be provided separately of the Total Production of Noida Unit (Plot 4 and Plot 5 both adjacent).
  • The transaction does not relate to sale/disposal of any undertaking.