Maharashtra Scooters Limited — Important, 21-02-2025: General Updates

The company has decided to close its manufacturing operations at the C-1 MIDC location in Satara due to their non-viability. Subsequently, it has approved the transfer of leasehold rights for approximately 50 acres of factory land, along with the sale of associated machinery, for a total of ₹72.92 crore (Cr). The expected timeline for completing this transaction is by the end of March 2025, contingent upon meeting the necessary conditions outlined in the sale agreement. The buyer, Urbanedge Indospaces LLP, is not associated with the promoter or its group companies. This development could positively influence the company’s strategic focus and cash flow, but investors should monitor further operational implications closely.