Talbros Engineering Ltd Secures 40,000 Sq Mtr Industrial Premises for Expansion
Talbros Engineering Limited has secured a new industrial premises to facilitate future expansion and the development of new projects. The property is located at Plot No. 70-B, Sector - 3, Industrial Growth Center, Pithampur, Dhar, Madhya Pradesh - 454774, and measures 40,000 sq. mtrs.The acquisition is part of a transaction with M/s Lakhani Rubber Products Private Limited, for which the total consideration amounts to Rs. 25,00,00,000/- (Rupees Twenty-Five Crores Only).
This development follows an earlier intimation by the company regarding the premises. The company confirmed that in the initial communication, the area of the property was inadvertently mentioned as 40,000 sq. ft., clarifying that the correct measurement is 40,000 sq. mtrs. All other details related to the transaction remain unchanged.
In terms of corporate relationships, the seller involved in the agreement does not belong to the promoter or promoter group of Talbros Engineering Limited, and the transaction is not considered a related party transaction.
Talbros Engineering Limited stated that updates concerning the commencement of commercial production or operations for any unit or division will be communicated separately once those activities commence.
Stock Price Movement
As of 14:36, shares of Talbros Engineering Ltd are seeing a slight dip, sitting at ₹693.15 after falling 0.48%. The stock has seen considerable intraday movement, ranging from a low of ₹691.05 to a high of ₹700.70 during trading hours.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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