Galaxy Bearings Ltd Increases Advance Payment in Proposed Land Acquisition
Galaxy Bearings Ltd has increased the advance payment made for the proposed purchase of agricultural land located in Gujarat. The company paid a further ₹25,00,000 to the seller, Mr. Samjibhai Pragajibhai Dhameliya on June 11, 2026.The land in question is situated at Village Shapar, Taluka Kotda Sangani, District Rajkot, Gujarat, and was identified by Old R.S. No. 254 and New R.S. No. 422/3. The total area of the agricultural land amounts to approximately 7,588 sq. meters.
The additional payment brings the aggregate advance paid by Galaxy Bearings Ltd in relation to the proposed transaction up from ₹3,51,00,000 to ₹3,76,00,000. The payment was executed through banking channels and forms part of the consideration for the acquisition.
The status of the land deal is detailed below:
| Metric | Previous Advance Paid | New Advance Payment (on 11/06/2026) | Aggregate Advanced Amount |
|---|---|---|---|
| Total Advance Paid | ₹3,51,00,000 | ₹25,00,000 | ₹3,76,00,000 |
The transaction remains under evaluation and is contingent upon the finalization of commercial terms, execution of definitive documents, and applicable statutory approvals. The company stated that no sale deed or transfer of ownership has been executed as of this date.
All other disclosures and information previously provided by Galaxy Bearings Ltd regarding the proposed land purchase remain unchanged.
Stock Price Movement
As of 13:57, shares of Galaxy Bearings Ltd are ticking down, currently trading at ₹550.00, which registers a -1.84% decline. The stock showed significant intraday movement, having ranged between a low of ₹530.30 and a high of ₹558.00 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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