Shalimar Paints Subsidiary Enters Agreement to Sell Gurugram Property
Shalimar Adhunik Nirman Limited, a subsidiary of Shalimar Paints Limited, has entered into an agreement to sell its property located at Plot no. 75, Sector 32, Urban Estate Gurgaon II in Gurugram.The transaction details indicate that the property is set to be disposed of within the next few months. The buyer for the asset is Sparton Growth Comtrade Private Limited. The sale is not considered a related party transaction and has been finalized outside of any Scheme of Arrangement.
Details regarding the subsidiary's financial standing and the timeline of the sale have been established, as reported in the agreement.
| Particular | Details |
|---|---|
| Subsidiary Name | Shalimar Adhunik Nirman Limited |
| Property Location | Plot no. 75, Sector 32, Urban Estate Gurgaon II, Gurugram |
| Buyer | Sparton Growth Comtrade Private Limited |
| Transaction Date | August 05, 2026 |
| Expected Completion of Sale | November 20, 2026 |
Financial and Transaction Details
The subsidiary's financial performance for the last financial year is noted in the transaction records. The company reported an income of 1473.52 Lakhs, constituting 6.20% of the relevant measure (income or turnover). This figure is based on the audited financial statements as of March 31, 2026.The agreement stipulates that a consideration of Rs. 50 Crores is to be received by Shalimar Adhunik Nirman Limited in tranches prior to the date of registration of the Sale Deed. The buyer, Sparton Growth Comtrade Private Limited, is not affiliated with the promoter or the promoter group of the listed entity.
SHALPAINTS Stock Price Movement
Shalimar Paints Limited rallied today, closing the trading session at ₹86.19 after shareholders enjoyed a 4.19% gain. The stock moved within an intraday range defined by a low of ₹81.11 and reached a high of ₹87.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.