Announcement under Regulation 30 of SEBI (LODR) Regulations, 2015
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Gujarat Poly Electronics Ltd's board has approved selling its leasehold land (12,022.40 sq m) and factory building at Plot B-18, Gandhinagar Electronic Estate to Tirex Transmission Private Limited for Rs 29 Crore. The property currently accounts for 100% of the company's turnover (Rs 1,779.24 lakhs), but the company states it has made arrangements to shift operations to a new location and turnover will not be adversely affected. The buyer, Tirex, is not a related party and is independent of the promoter group. The board also raised its limits for loans, investments, guarantees and securities from Rs 35 Crore to Rs 60 Crore, and approved a letter agreement with Tirex for continued use of the premises as the registered office during the transition. Shareholder approval will be sought at an EGM on September 1, 2025.
For shareholders, this is a major asset monetisation event — a Rs 29 Crore real estate inflow against a Rs 1,779 lakh revenue base, with the company explicitly confirming business continuity at a new location. Watch for the EGM outcome on September 1, 2025 and GIDC approvals, as these are the next steps needed to complete the deal.