Elgi Rubber Company Sells Non-Core Land in Coimbatore for Rs 43.5 Crores
Elgi Rubber Company Limited has completed the sale of a non-core land property, along with its associated building and fittings, located in Trichy Road, Coimbatore. The sale deed was executed on June 25, 2026, to an unrelated third party buyer, Mr. Senthilnathan of Salem.The sold property is part of the company's larger holding and consists of 75 cents and 37 sq.ft out of a total area of 7.24 acres in Coimbatore.
According to the transaction details, the total sale consideration received from the buyer amounted to Rs 43,50,00,000/- (Rupees Forty Three Crores and Fifty Lakhs only).
The land property was sold to Mr. Senthilnathan, an individual buyer who is not affiliated with or related to any promoter or group companies of Elgi Rubber Company Limited. The transaction was confirmed to be outside the purview of a related party deal.
The sale event has been completed as of June 25, 2026. The company had previously obtained members' approval for this disposal through a Special Resolution passed via postal ballot process on May 5, 2023, under Section 180(1)(a) of the Companies Act, 2013.
Key details regarding the asset sale are summarized below:
| Aspect | Details |
|---|---|
| Transaction Date | June 25, 2026 (Sale Deed Execution) |
| Seller | Elgi Rubber Company Limited |
| Buyer Name | Mr. Senthilnathan (Salem) |
| Property Details | 75 cents and 37 sq.ft of land in Trichy Road, Coimbatore, including building and fittings. |
| Total Land Extent | Out of 7.24 acres |
| Sale Consideration | Rs 43,50,00,000/- |
ELGIRUBCO Stock Price Movement
Elgi Rubber Company Limited shares slipped in post-market trading today, closing lower by 1.36% to settle at ₹48.03. The stock traded during the day between a low of ₹47.2 and a high of ₹50, with 27,203 shares recorded in volume.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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