Inadvertently earlier update under Reg.30 of SEBI (LODR) Reg., 2015 dated 06.09.2025 given was not on letter head. We are again submitting the same update on the letter head of the Company. ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Steel Strips Infrastructures is selling the remaining four shops (M-15-A, M-11, Basement, and Rooftop) at its SAB Mall in Noida to SMC Enterprises Pvt Ltd for Rs 15 Crores under an Agreement to Sell dated September 5, 2025. Separately, it has signed an MOU with sister concern Shubham Properties Pvt Ltd for the mall's residual rights (maintenance and liabilities) for Rs 2 Crores, bringing total consideration to Rs 17 Crores. Expected completion is October 31, 2025. The company notes that SAB Mall currently contributes 97.93% of its revenue (Rs 128.81 Lakhs) but makes a loss with no contribution to net worth, so this is effectively a full exit from its real estate operations. Proceeds will be used to pay off company liabilities. The filing is a re-submission on letterhead of an earlier intimation.
This is a significant divestment for shareholders — the company is selling off nearly all of its revenue-generating asset (97.93% of income). While the Rs 17 Crore inflow helps repay liabilities, investors should note the company is loss-making and is essentially exiting its core business, leaving questions about future operations and revenue trajectory.