Steel Strips Infrastructures Ltd Receives Rs 2.25 Crore as Management Rights and Sale Consideration for SAB Mall, Noida
Steel Strips Infrastructures Ltd has completed key milestones regarding the agreement to sell and the transfer of management rights pertaining to SAB Mall in Noida, Uttar Pradesh. The company confirmed the receipt of the balance consideration following the execution of an addendum agreement to sell and the Memorandum of Understanding (MOU).The successful completion of these steps includes the transfer of management rights and the handover of specified original title documents to the buyer, as stipulated by the MOU. While the sale is outside the scope of a Scheme of Arrangement, the company stated that the proceeds from this transaction will be utilized for paying off existing liabilities within the organization.
The agreement for the sale was executed on June 5, 2026, and the total consideration received amounts to Rs 2.25 Crore. This amount is specifically allocated as Rs 1.00 Crore towards management rights and Rs 1.25 Crore towards the overall sale consideration.
Key details concerning the financial structure of the transaction are detailed below:
| Component | Amount (Crores) |
|---|---|
| Management Rights Consideration | Rs 1.00 |
| Sale Consideration Received | Rs 1.25 |
| Total Balance Consideration Received | Rs 2.25 |
Regarding the operation of SAB Mall, the company reported that rental income, Hoarding & Publicity charges, Parking area Receipts, and maintenance/Lease/Power backup charges received by Steel Strips Infrastructures Ltd generate Rs 136.03 Lakhs—which represents 97.93% of the company’s revenue or income. However, there was no contribution to Net Worth as the company is operating as a loss-making entity.
The sale is expected to be completed by August 10, 2026. The company noted that if the buyer does not receive the necessary clearances, such as a No Due Certificate or any other permission from the Noida Authority within the stipulated time, the buyer retains the option to either extend the timeline or cancel the MOU and Agreement to Sell.
The buyers involved in the transaction are M/s SMC Enterprises Private Limited of New Delhi and M/s Shubham Properties Private Limited of New Delhi. M/s SMC Enterprises focuses primarily on logistics and supply chain, while M/s Shubham Properties concentrates on real estate management and ownership. The company confirmed that neither buyer is related to the promoter or the promoter group.
Stock Price Movement
At the close of trade today, shares of Steel Strips Infrastructures Ltd settled at ₹19.65 after declining 4.15%. The stock traded through a wide intraday range, marking lows as low as ₹19.59 and highs up to ₹20.50.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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