We hereby Submitting the Disclosure As per Regulation 30 of SEBI (LODR),2015 in relation with Advance Payment in Relation to Proposed Transaction for Purchase of Land.
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Galaxy Bearings Ltd has disclosed advance payments totaling ₹3.51 crore made toward a proposed purchase of agricultural land. The land is located at Village Shapar, Taluka Kotda Sangani, District Rajkot, Gujarat, measuring approximately 7,588 sq. meters, with a total indicative consideration of ₹6 crore. The advance payments were made in three tranches between February and March 2026. The company clarified that no formal agreement has been executed yet, and the transaction remains at a preliminary stage subject to due diligence, finalization of terms, and regulatory approvals. The purchase is intended for business purposes to support operational and strategic requirements. The company also admitted to a delay in disclosure due to an internal communication lapse.
The disclosure reveals a significant capital outflow of ₹3.51 crore for a land purchase that remains uncertain and not yet legally binding. The delayed disclosure and preliminary nature of the transaction may raise concerns about governance processes, though the purchase appears aimed at business expansion.