Pursuant to receipt of permission from MIDC for assignment of leasehold rights between two wholly owned subsidiaries of the Company (NexSteer and DriveSys), DriveSys has executed the lease ....
ZFSTEERING · price
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ZF Steering Gear India has informed the stock exchange that Maharashtra Industrial Development Corporation (MIDC) has granted permission to transfer leasehold rights of a factory plot (E-3/2, MIDC Supa Parner Industrial Park, Ahilyanagar, Maharashtra) along with the building on it. The rights were earlier held by NexSteer Systems Private Limited, a wholly owned subsidiary, and have now been assigned in favour of DriveSys Systems Private Limited, another wholly owned subsidiary. The lease deed was executed on March 18, 2026, with NexSteer joining as confirming party. The transaction was carried out at arm's length price in line with applicable laws. This is part of an internal restructuring between two subsidiaries of the same parent company.
This is an internal reorganization between two wholly owned subsidiaries and is unlikely to have any material impact on the listed company's shareholders or its stock price, as no change in ownership or control is involved.