We hereby submitting detials as per Required under SEBI (LODR) 2015, with respect to Ongoing Discussion for Proposed sale of Land.
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Galaxy Bearings Ltd has disclosed that it is evaluating a potential sale of its industrial land located at Gat No. 1091, Village Sanaswadi, Taluka Shirur, District Pune, Maharashtra. The land admeasures approximately 20,234 square meters. The company is currently in discussions with multiple prospective parties at a preliminary and non-binding stage. A refundable token or earnest amount has been received from one prospective party as part of negotiations. No binding agreement has been executed yet, and the transaction remains subject to due diligence, finalisation of commercial terms, execution of definitive agreements, and necessary approvals. There is no certainty that the transaction will be concluded.
This is an early-stage disclosure indicating the company is exploring asset monetisation. The sale, if completed, could generate cash for the company, but investors should note that the transaction is far from certain given the preliminary nature of discussions.