Update under Reg.30 of SEBI (LODR) Regulations, 2015 sale of remaining 4 shops held in stock-in-trade at SAB Mall NOIDA (UP).
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Steel Strips Infrastructures, a real estate company that built the SAB Mall in Noida, has signed an agreement on September 5, 2025 to sell its last 4 remaining shops (M-15-A, M-11, Basement, and Rooftop) held as stock-in-trade to M/s SMC Enterprises Private Limited for Rs 15 Crores. It has also signed an MOU with a sister concern, M/s Shubham Properties Private Limited, for residual maintenance and management rights of the mall for Rs 2 Crores, taking total consideration to Rs 17 Crores. The SAB Mall contributed nearly 98% of the company's revenue (Rs 128.81 Lakhs) last year, and the unit is loss-making with no contribution to net worth. The buyers are not related to promoters, and the transaction is at arm's length. Expected completion is October 31, 2025, and proceeds will be used to pay off company liabilities.
This is a major divestiture — the company is selling off essentially its entire revenue-generating asset (the mall contributed ~98% of income). Shareholders should expect a sharp drop in future operating revenue, though the Rs 17 Crore inflow will help reduce existing liabilities. Post-sale, the company's core business direction is unclear.