Pursuant to regulation 30 of SEBI (LODR) Regulations, 2015, the Company has purchased a land parcel in Khalapur for the purpose of expansion of Company''s existing Manufacturing facilities.
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Mitsu Chem Plast Ltd has purchased a land parcel in Khalapur, Raigad District, Maharashtra to expand its existing manufacturing facility located there. The company entered into two separate agreements: Rs. 5.10 crore with Mr. Sambhaji Dhondu Patil and Rs. 1.60 crore with Mrs. Jayshree Sambhaji Patil, taking the total land purchase value to about Rs. 6.70 crore (inclusive of stamp duty and registration fees). The transactions are not related party transactions and the sellers have no shareholding or promoter connection to the company. The disclosure was filed under SEBI LODR Regulation 30.
This is a brownfield expansion move that signals management's intent to grow manufacturing capacity at the existing Khalapur location, though the deal size appears modest. Shareholders should watch for further updates on capex plans and timelines for the expanded facility.