Laxmipati Engineering Works Limited Completes Sale of Leasehold Land for ₹456 Crores

Laxmipati engineering Works Limited has completed the sale of its leasehold land for ₹456.00 crores on January 02, 2026. The company informed BSE Limited about this significant transaction under Regulation 30 of the SEBI Listing Regulations, marking the completion of a major asset disposal.

Transaction Details

The sold property is located at Plot No. D-2/3, Industrial phase Dahej-II, within the village limits of Suva at GIDC Industrial Estate Dahej-II, Ta-Vagra, Dist. Bharuch. The transaction was executed with prior shareholder approval obtained through a Postal Ballot conducted on February 12, 2025.

Buyer Information and Transaction Nature

Technip Energies India Limited acquired the leasehold land, and the company has confirmed that the buyer does not belong to the promoter or promoter group. The transaction does not fall within the category of related party transactions, ensuring compliance with regulatory frameworks.

Financial Impact and Compliance

The sold property did not contribute any turnover, revenue, or income during the last financial year, indicating it was a non-operational asset. The disposal was conducted outside the scheme of arrangement but with proper regulatory compliance, including the mandatory shareholder approval through the Postal Ballot process.

The transaction represents a strategic asset disposal for Laxmipati Engineering Works Limited, converting a non-revenue generating leasehold property into substantial cash consideration of ₹456.00 crores.