Rajputana Stainless Limited Signs MOU for Land Acquisition Worth Rs. 18 Crores in Gujarat
Rajputana Stainless Limited has signed an MOU for land acquisition in Village Padla, Taluka Shankheshwar, District Patan, Gujarat, with total consideration of Rs. 18 Crores plus stamp duty. The company has paid an advance of Rs. 10 Crores 45 Lacs, with the transaction subject to due diligence, definitive agreements, and statutory approvals. This disclosure was made under SEBI Regulation 30, with further updates promised upon transaction completion.
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Rajputana Stainless Limited has entered into a Memorandum of Understanding for the acquisition of land in Gujarat, marking a significant step in the company's expansion plans. The announcement was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Land Acquisition Details
The proposed acquisition involves land situated at Revenue Survey No. 774/1, Khata No. 871, Village Padla, Taluka Shankheshwar, District Patan. The strategic location in Gujarat's industrial belt positions the company for potential operational expansion.
| Parameter: | Details |
|---|---|
| Location: | Village Padla, Taluka Shankheshwar, Dist. Patan |
| Survey Details: | Revenue Survey No. 774/1, Khata No. 871 |
| Total Consideration: | Rs. 18 Crores plus Stamp Duty |
| Advance Paid: | Rs. 10 Crores 45 Lacs |
Transaction Framework
The proposed acquisition remains subject to several key conditions that must be fulfilled before completion. These include comprehensive due diligence processes, execution of definitive agreements, and obtaining necessary statutory approvals where applicable.
The company has structured the transaction with a substantial advance payment of Rs. 10 Crores 45 Lacs against the total consideration of Rs. 18 Crores, excluding stamp duty charges. This advance demonstrates the company's commitment to the acquisition while maintaining prudent transaction management.
Regulatory Compliance
Rajputana Stainless Limited has fulfilled its disclosure obligations under SEBI regulations by announcing this material event. The company has committed to making appropriate additional disclosures upon execution of definitive agreements and successful completion of the transaction.
The announcement was signed by Shankarlal Deepchand Mehta, Chairman & Managing Director, ensuring proper corporate governance in the disclosure process. The company maintains its focus on transparent communication with stakeholders regarding significant corporate developments.
What specific manufacturing or operational activities does Rajputana Stainless plan to establish at the Gujarat facility?
How will this expansion impact the company's production capacity and revenue projections over the next 2-3 years?
What is the expected timeline for obtaining statutory approvals and commencing operations at the new site?
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