Storage Technologies and Automation Limited Board Approves ₹16.50 Crore Borrowing for Land Purchase and Factory Construction

1 min read     Updated on 09 Mar 2026, 09:58 PM
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AI Summary

Storage Technologies and Automation Limited's Board of Directors approved borrowing up to ₹16.50 crore for land purchase and factory construction during a meeting held on March 9, 2026. The approval was granted under Section 179(3)(d) of the Companies Act, 2013, representing a significant expansion initiative for the company specializing in racking, shelving, automation, and structural solutions.

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Storage Technologies & Automation Limited has announced a major expansion initiative following its Board of Directors meeting held on March 9, 2026. The company's board approved borrowing up to ₹16.50 crore specifically for land acquisition and factory construction purposes.

Board Meeting Details

The board meeting was conducted on March 9, 2026, commencing at 5:45 PM and concluding at 9:30 PM. The meeting was held in compliance with regulatory requirements and addressed several business items, with the borrowing approval being a key decision.

Borrowing Approval Specifics

The Board of Directors approved the borrowing under Section 179(3)(d) and other applicable provisions of the Companies Act, 2013. The approved borrowing details are as follows:

Parameter: Details
Borrowing Amount: ₹16.50 crore (Rupees Sixteen Crore Fifty Lakh only)
Purpose: Purchase of land and construction of factory building
Legal Framework: Section 179(3)(d) of Companies Act, 2013
Meeting Date: March 9, 2026

Regulatory Compliance

The announcement was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to disclose material events and information that could impact investor decisions.

Company Leadership

The disclosure was signed by Mohammad Arif Abdul Gaffar Dor, Managing Director of Storage Technologies and Automation Limited, with DIN: 02943466. The digital signature was applied on March 9, 2026, at 21:40:00 +05'30'.

Business Focus

Storage Technologies and Automation Limited operates in multiple segments including racking, shelving, automation, structural solutions, and consulting services. The company is incorporated under CIN: L74900KA2010PLC052918 and is headquartered in Bangalore, Karnataka.

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Storage Technologies Promoter Increases Stake Further with Additional Share Purchase

1 min read     Updated on 24 Dec 2025, 06:05 PM
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AI Summary

Storage Technologies & Automation Limited's Promoter and Chairman Hanif Abdul Gaffar Khatri has made another strategic share acquisition, purchasing 16,800 equity shares through open market transactions on December 23-24, 2025. This latest acquisition, representing 0.13% of the company's paid-up share capital, has increased his shareholding from 36.57% to 36.70%, following a similar acquisition pattern from earlier in December that had raised his stake from 36.44% to 36.57%.

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Storage Technologies & Automation Limited has disclosed another share acquisition by its Promoter and Chairman, Hanif Abdul Gaffar Khatri, through open market transactions conducted on December 23-24, 2025. This latest acquisition involved 16,800 equity shares, representing 0.13% of the company's total paid-up share capital, marking the second such transaction within a week.

Latest Transaction Details

The recent share acquisition was executed across two trading sessions with specific quantities purchased on each date:

Date: Shares Acquired: Percentage: Mode:
December 23, 2025 5,600 shares 0.04% Open Market
December 24, 2025 11,200 shares 0.09% Open Market
Total 16,800 shares 0.13% Open Market

Updated Shareholding Pattern

Following this latest acquisition, the promoter's shareholding has increased further. The updated shareholding position shows:

Shareholding Position: Number of Shares: Percentage:
Before Latest Acquisition 46,96,800 36.57%
Shares Acquired 16,800 0.13%
After Latest Acquisition 47,13,600 36.70%

Previous Acquisition Activity

This follows a similar acquisition made earlier in December, where the promoter had acquired 16,800 shares on December 18-19, 2025, which had increased his holding from 36.44% to 36.57%. The consistent acquisition pattern demonstrates the promoter's continued confidence in the company's prospects.

Company Share Capital Structure

Storage Technologies & Automation Limited maintains a total equity share capital of ₹12.84 crores, comprising 1,28,40,000 equity shares of ₹10.00 each. The company's shares are listed on BSE Limited with scrip code 544171, and the total share capital remained unchanged following this acquisition.

Regulatory Compliance and Declaration

The disclosure was made in compliance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Hanif Abdul Gaffar Khatri declared that the acquisition was made without possession of any unpublished price sensitive information (UPSI), as defined under SEBI (Prohibition of Insider Trading) Regulations, 2015. The required documentation was submitted to BSE Limited and the company's compliance officer on December 24, 2025.

Historical Stock Returns for Storage Technologies & Automation

1 Day5 Days1 Month6 Months1 Year5 Years
+4.03%-10.18%-17.24%-55.03%-57.68%-77.23%
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