Tirupati Foam Ltd to Sell Surplus Land and Building for Over Rs 30 Crore
Tirupati Foam Limited has approved the sale of its surplus land and building parcel, with the transaction valued at not less than Rs 30 crore. The move, which was sanctioned during a board meeting on July 20, 2026, pertains to assets located in Greater Noida, Uttar Pradesh.The company plans to sell the property to Neumann Components Pvt Ltd, an independent entity that is not related to the company's promoter group.
The land parcel measures approximately 9325 square meters and is situated at Plot No. 5, Echotech I, Extension Greater Noida Industrial Area in Uttar Pradesh. The purpose of the agreement is the outright sale of this surplus land along with the existing building structure.
While minimal business operations were previously conducted on the said land parcel, Tirupati Foam Limited stated that the disposal will not impact the core business operations of the company. Furthermore, the transaction does not constitute an undertaking or substantially the whole of the undertaking under Section 180(1)(a) of the Companies Act, 2013.
The agreement for the sale is scheduled to be executed following approval by shareholders at the upcoming 39th Annual General Meeting. The entire disposal process is anticipated to be completed within a period of six months, provided all applicable laws and regulations are met.
Details of the transaction are summarized below:
| Particulars | Details |
|---|---|
| Asset | Surplus Land and Building (Plot No. 5) |
| Location | Echotech I, Greater Noida Industrial Area, Uttar Pradesh |
| Land Size | Approximately 9325 Sq. Meters |
| Proposed Buyer | Neumann Components Pvt Ltd |
| Minimum Consideration | Not less than Rs. 30 Crore (Rupees Thirty Crore only) |
| Transaction Status | Agreement to be executed post Shareholder approval at the 39th Annual General Meeting |
Tirupati Foam Limited confirmed that the proposed transaction does not fall under Related Party Transactions, and the buyer is an independent party.
Stock Price Movement
At the close of trade today, Tirupati Foam Ltd settled at ₹71.40, posting a strong gain of 5.00% on shares.Shares remained tight throughout the session, trading within an intraday range that spanned from a low of ₹71.00 to a high of ₹71.40.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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