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LGB Forge Limited has sent a Postal Ballot Notice dated March 10, 2026 to its members seeking approval for a Material Related Party Transaction. The company proposes to sell 8.04 acres of non-core land at Kallapalayam Village, Coimbatore (comprising S.F. No. 171, 172/1A and 173/1A) to M/s. LGB Educational Foundation, a trust belonging to the promoter group, for a total consideration of not less than ₹12 Crores. The transaction value represents about 12.76% of the company's audited turnover of ₹94.04 Crores for FY2024-25, making it a material related party deal that requires shareholder approval. E-voting will run from March 17, 2026 to April 15, 2026, and promoters/directors are not allowed to vote on this resolution. The stated rationale is to use the sale proceeds to support the company's working capital needs.
If approved, the company will receive at least ₹12 Crores in cash by selling idle non-core land, which can strengthen liquidity and fund working capital. However, since the buyer is a promoter group entity, some minority shareholders may view this with caution despite the stated arm's-length pricing.