Atlas Cycles Extends Land Sale Deed Deadline; Receives Rs 45.00 Crores Advance on Sonepat Plot
Atlas Cycles (Haryana) Limited has secured an extension for the execution of the Sale Deed regarding its land in Sonepat, Haryana. The Board of Directors approved the requested extension, allowing more time for the finalization of the transaction which relates to a 20-acre plot.The agreement to sell the land was originally entered into on December 7, 2024. The board's approval extended the timeline for concluding the sale deed with the buyer until December 31, 2026.
In terms of the transaction status, Atlas Cycles has received an advance payment of Rs 45.00 crores from the buyer. Furthermore, the buyer has committed to making an additional payment of Rs 15.00 crores by October 30, 2026.
The material financial updates related to the land transaction are summarized below:
| Milestone | Status / Amount | Date/Timeline |
|---|---|---|
| Land Area for Sale | 20 acres | N/A |
| Advance Received by Company | Rs 45.00 crores | Current |
| Future Payment Commitment | Rs 15.00 crores | By October 30, 2026 |
| Sale Deed Execution Deadline | Extended | December 31, 2026 |
The company confirmed that it will provide further updates regarding any other material developments pertaining to the sale of the land in Sonepat.
ATLASCYCLE Stock Price Movement
Atlas Cycles (Haryana) Limited shares are edging higher to ₹98.3 as of 12:28 PM today, rallying by 0.96% in live trading. The stock trades on a volume of 6,531 shares and remains well within its intraday range of ₹96.56 to ₹101.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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