W.S. Industries to Sell Bengaluru Industrial Land to Aarnav Business Park
W.S. Industries (India) Limited has announced the Board of Directors' approval for the mutual surrender, cancellation, and termination of its existing lease agreement concerning industrial land located near Bengaluru. The transaction involves the sale and transfer of the vacant land to M/s. Aarnav Business Park.The Board of Directors, at its meeting held on May 26, 2026, approved the comprehensive agreement related to the property situated at Shettigere Village, Jala Hobli, Bengaluru District. The original lease agreement for the land was entered into on April 26, 2023, with M/s. Aarnav Business Park.
The core transaction involves the transfer of the industrial land, which admeasures approximately 2365.38 Sq. Mtrs. (25,460.75 Sq. Ft.), in exchange for a minimum consideration of ₹ 6.04 Crores. The sale is subject to the execution and registration of necessary deeds, agreements, and the fulfillment of standard formalities.
The Board's approval also covers the settlement of all obligations associated with the existing lease arrangement. This includes the repayment of any amounts received previously under the lease agreement, forming part of the overall commercial negotiation between the parties.
The company confirmed that the proposed transaction does not fall under the purview of related party transactions and does not constitute a slump sale. Furthermore, the Board noted that considering the company's financial parameters, the land proposed for transfer does not qualify as an 'undertaking' under the Companies Act, 2013, thus eliminating the need for shareholder approval for the sale.
Key details of the transaction are summarized below:
| Aspect | Detail |
|---|---|
| Transaction | Mutual surrender, cancellation, and termination of Lease Agreement. |
| Property Location | Shettigere Village, Jala Hobli, Bengaluru District, near Bengaluru. |
| Land Area | Approximately 2365.38 Sq. Mtrs. (25,460.75 Sq. Ft.). |
| Proposed Buyer | M/s. Aarnav Business Park (A non-promoter entity). |
| Minimum Consideration | ₹ 6.04 Crores. |
| Related Party Status | The transaction does not fall within the purview of related party transactions. |
WSI Stock Price Movement
Today, W S Industries (I) Limited shares edged higher, closing at ₹69.16 after gaining 1.68% in the session. The stock was supported by notable trading activity, handling a total volume of 91,844 shares today.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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