Elgi Rubber Company Announces Agreement for Sale of Non-Core Land in Hyderabad
Elgi Rubber Company Limited has entered into an Agreement of Sale on July 20, 2026, concerning a piece of land and buildings located in Hyderabad, Telangana. The transaction involves the sale of non-core assets to an unrelated third-party buyer.The property being sold includes Plot No. 14, Plot 15, and Plot No. 16, admeasuring 5213.40 Square Yards, or 4359.03 Square Meters (approximately 1.07 acres), along with the existing buildings in 'Auto Nagar' of Bagh Hayathnagar, Ranga Reddy District, Hyderabad.
Key details regarding the sale are provided below:
| Aspect | Detail |
|---|---|
| Sale Property Location | Auto Nagar, Bagh Hayathnagar, Ranga Reddy District, Hyderabad, Telangana |
| Land Measurement | 5213.40 Sq. Yards / 4359.03 Sq. Mtrs (approx. 1.07 acres) |
| Buyer Name | Vega Elite LLP (ACW-3745) |
| Buyer Status | Unrelated third party, not belonging to the promoter group |
| Agreement Date | July 20, 2026 |
Financial and Transaction Details
The total sale consideration for the property is Rs.12,00,00,000 (Rupees Twelve Crores only). The company has received an advance payment of Rs.4,00,00,000 (Rupees Four Crores) from the buyer.The sale transaction will be completed on or before September 30, 2026, subject to requisite consents and approvals.
Regulatory Compliance Context
The disposal of the non-core assets was undertaken following a special resolution passed by the company's members through postal ballot process on October 28, 2023, as required under Section 180(1)(a) of the Companies Act, 2013. The transaction is confirmed to be outside a Scheme of Arrangement and has been approved by the members, with public shareholder votes in favour exceeding those against.The sale does not constitute a related party transaction.
ELGIRUBCO Stock Price Movement
Shares of Elgi Rubber Company Limited slipped today, settling at ₹58.53 after shedding 5.87% in post-market trading. The stock experienced an intraday range, charting between a low of ₹58.00 and a high of ₹62.48, with 56,248 shares traded during the session.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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