Sharda Motor Industries Limited — Important, 24-02-2025: Agreements

Sharda Motor Industries Limited has entered into an agreement to transfer leasehold rights for a property in Haridwar spanning approximately 12,325 sq. mts. The transaction includes a consideration of ₹23.05 Crores, expected to be completed within 60 days from the date of the agreement. The buyer, Avadh Rail Infra Limited, is not part of the promoter group. Notably, this agreement is outside the Scheme of Arrangement and does not trigger provisions under regulation 37A of the Listing Regulations, as it does not constitute a substantial undertaking. This move may streamline operations and free up capital, reflecting a strategic shift that could benefit the company’s financial positioning going forward. Watch closely for potential developments and operational impacts.