Automotive Axles has executed a Sale Deed on June 12, 2024, effecting the sale of the Company's Industrial land measuring 93,032.84 Sq.mt situated at Plot No. 70 & 71, Smart Industrial Park, (Near NATRIP) Industrial area, Pithampur District Dhar (Madhya Pradesh) for a consideration of Rs 12.75 crore to M/s. Swara Baby Products (the Buyer) on such terms and conditions mentioned therein.
The buyer is a third-party buyer who does not belong to the Promoter/Promoter Group Companies and the transaction does not fall under the ambit of Related Party Transactions. None of the Promoters, Directors, Key Managerial Persons and/or their relative(s) are interested whether directly/indirectly in the aforesaid matter.
Automotive Axles manufactures drive axles, non-drive axles, front steer axles, specialty & defence axles and drum & disc brakes.
