Elgi Rubber Company Limited has entered into an agreement to sell land and buildings in Hyderabad for Rs 12 crore to unlock value from non-core assets. The company signed the Agreement of Sale on July 20, 2026, for the property located in Bagh Hayathnagar, Ranga Reddy District, Telangana. The buyer, Vega Elite LLP, is an unrelated third party, and the transaction is not classified as a related party deal.

The sale property comprises Plot Nos. 14, 15, and 16, admeasuring 5213.40 Sq. Yards, or 4359.03 Sq. Mtrs (approximately 1.07 acres), along with the buildings thereon. The total consideration is fixed at Rs 12 crore, of which the company has received an advance of Rs 4 crore. The disposal of these assets was previously approved by shareholders via a postal ballot process on October 28, 2023, under Section 180(1)(a) of the Companies Act, 2013, and Regulation 37A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The completion of the sale is subject to requisite consents and approvals, with an expected closing date on or before September 30, 2026. The company has not yet executed the final sale deed. As the assets are classified as non-core, the disclosure regarding their contribution to turnover or net worth was not applicable.

Transaction Details

The sale is being conducted outside a Scheme of Arrangement. The special resolution passed in 2023 had received majority support from public shareholders, authorizing the company to sell the identified non-core assets to unrelated parties.

Elgi Rubber Company Limited has completed the sale of a land property in Coimbatore for a total consideration of Rs 43.50 crore. The company executed the sale deed on June 25, 2026, transferring 75 cents and 37 sq.ft of land, along with the building and all fittings and fixtures situated on Trichy Road, to an unrelated third party. This disposal of non-core assets was approved by shareholders through a postal ballot process on May 5, 2023, pursuant to a Board Resolution dated February 12, 2026.

The buyer, Mr. S. Senthilnathan from Salem, is an individual with no affiliation to the promoter or promoter group of the company. The transaction does not qualify as a related party transaction and was conducted at arm's length. The sale is outside the scope of a Scheme of Arrangement, and the company confirmed compliance with the necessary regulations, noting that Regulation 37A of the LODR Regulations was not applicable to the shareholder approval obtained in 2023.

The following table outlines the key details of the transaction:

The disclosure was made to the National Stock Exchange of India Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was signed by Faizur Rehman Allaudeen, Company Secretary of Elgi Rubber Company Limited.