Chembond Material Technologies Limited has informed the Exchange about Allotment of Land by Karnataka Industrial Areas Development Board
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Chembond Material Technologies has been allotted 10.02 acres of land at Kanagala Industrial Area (Sub Layout), Belagavi District, by the Karnataka Industrial Areas Development Board on a lease-cum-sale basis. The tentative cost of the plot is approximately Rs. 7.94 crores (Rs. 7,94,26,000). The land will be used to set up a new manufacturing unit for metal treatment chemicals, automotive sealants, engineering adhesives, industrial and high-performance coatings, paint booth solutions, MRO products, and biosciences. This is a greenfield expansion that adds a manufacturing location outside the company's existing Navi Mumbai base. The allotment is not a related-party transaction and carries no special rights for the allotting authority.
This is a positive long-term capacity expansion signal showing the company's growth ambitions, but the plant is not yet operational, so there are no immediate revenue benefits. Investors should watch for further updates on construction timelines and project costs.