Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Update on sale of Company''s land at Thane
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Awaiting price reaction for this filing.
Uni Abex Alloy Products has entered into an agreement to sell its 9.45-acre land parcel at Thane (Mouje Majiwade) along with buildings to RSVM Hospitality Private Limited for a total transaction value of Rs. 244.23 crore. The buyer is unrelated to the promoter/promoter group. The company has already received an advance of Rs. 48.85 crore on signing, with the balance payable on conveyance. The sale does not fall under any scheme of arrangement and does not require Section 180(1)(a) approval, with net worth contribution of only 0.098%. The transaction is expected to be completed by January 31, 2026, subject to regulatory approvals, and the company has confirmed it will have no impact on ongoing business operations.
This is a non-core asset sale worth Rs. 244.23 crore (a significant cash infusion relative to the company's small net worth contribution). Shareholders get a large cash inflow with no disruption to operations. The stock may react positively given the size of the cash expected, though the deal is not yet fully closed and remains subject to regulatory approvals.