Sellowrap Industries Secures 99-Year Lease for Land in Tamil Nadu to Boost Manufacturing Expansion
Sellowrap Industries Limited has entered into a significant Lease Agreement with the State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT). The deal provides the company with land in Ranipet, Tamil Nadu, for the purpose of setting up a new manufacturing unit and achieving business expansion.The agreement, executed on August 25, 2026, grants Sellowrap Industries the right to utilize the land for a period of 99 years. The company is set to take possession of the land, which measures 2.48 acres, effective from August 26, 2026.
The transaction, which involves the lease of the land, is expected to result in the expansion of the company's business activities.
Details of the agreement and its terms are as follows:
| Particulars | Details |
|---|---|
| Counterparty Name | State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) |
| Land Allotment Size | 2.48 acres |
| Lease Duration | 99 years |
| Agreement Execution Date | August 25, 2026 |
| Consideration Amount | Rs. 181.04 lakhs |
| Land Location | Ranipet, Tamil Nadu |
The agreement specifies that Sellowrap Industries Limited, having signed the deal with SIPCOT, confirmed that there is no shareholding in SIPCOT and that the transaction does not constitute a related party transaction.
SELLOWRAP Stock Price Movement
Sellowrap Industries Limited shares settled today, concluding the trading session flat at ₹67.50. The stock maintained stability throughout the market day, showing no significant movement relative to its previous close.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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