Goodluck India Limited has announced the acquisition of land in Ghaziabad, Uttar Pradesh, for ₹520.00 million. This strategic purchase represents a significant investment by the steel sector company in expanding its presence in the northern Indian market.

Land Acquisition Details

The company has completed the purchase of property located in Ghaziabad, a key industrial hub in Uttar Pradesh. The transaction details are outlined below:

Strategic Significance

The acquisition in Ghaziabad positions Goodluck India in one of India's prominent industrial centers. Ghaziabad's strategic location in the National Capital Region makes it an attractive destination for manufacturing and industrial operations. This land purchase could potentially support the company's future expansion and operational requirements in the steel sector.

Company Profile

Goodluck India Limited operates in the steel industry and is classified as a small-cap company. The acquisition represents a substantial investment that aligns with the company's growth strategy and infrastructure development initiatives. The purchase demonstrates the company's confidence in the industrial potential of the Uttar Pradesh region.

Goodluck India Limited has announced the acquisition of a commercial property in Ghaziabad, Uttar Pradesh, for ₹52 crores. The transaction involves the purchase of land and construction property along with furniture fixtures from promoter group entities.

Transaction Details

The property acquisition encompasses comprehensive assets as outlined below:

Parties Involved

The transaction involves four sellers, all connected to the company's promoter group:

Related Party Transaction

The company has disclosed that this transaction qualifies as a related party transaction due to the involvement of promoter and promoter group members. Key aspects include:

• The transaction is conducted at arm's length basis
• No special rights such as director appointment, preferential subscription rights, or capital structure restrictions are involved
• The agreement grants absolute rights, title, and interest in the property to the company
• Necessary approvals have been obtained as applicable

Regulatory Compliance

The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has confirmed that no potential conflict of interest arises from this agreement and all required approvals have been secured.

The transaction amount of ₹52 crores excludes stamp duty, registration fees, and other related expenses, which will be paid at actual amounts. The consideration will be settled exclusively through banking channels, ensuring transparency in the payment process.