Approval of Borrowing for Purchase of Land and Construction of Factory The Board has approved, pursuant to Section 179(3)(d) and other applicable provisions of the Companies Act, 2013, ....
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The board of Storage Technologies and Automation Ltd approved borrowing up to ₹16.50 crore to fund the purchase of land and construction of a new factory building. The decision was taken at a board meeting held on 9th March 2026 under Section 179(3)(d) of the Companies Act, 2013. The company, which operates in racking, shelving, automation, and structural solutions, currently has its registered office in Bangalore. This is a significant capital expenditure move that signals a planned expansion of manufacturing capacity. The borrowing amount and purpose have been disclosed under Regulation 30 of SEBI's listing rules.
This borrowing represents a major capital commitment that will increase the company's debt and expand its asset base. Shareholders should expect higher interest costs in the near term, but the new factory could support future revenue growth if demand remains strong.