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Indian Hume Pipe Co. Ltd. ( (IN:INDIANHUME) ) has provided an announcement.
Indian Hume Pipe Co. Ltd. has executed and registered a sale deed for its freehold land at Plot No. 4, Azamabad Industrial Area, Hyderabad, Telangana, measuring about 18,311.57 square yards (15,310.80 sq. mtrs.), for a total consideration of Rs 173.96 crore, with the entire amount received from purchaser ASBL Private Limited (formerly Ashoka Builders India Private Limited). The land, held on lease since 1931 and converted to freehold following a 2023 Telangana government order for existing lessees, does not qualify as an ‘undertaking’ under Section 180(1)(a) of the Companies Act, 2013, meaning the transaction falls outside the ambit of Regulation 37A and is neither a related-party nor slump sale; the monetisation of this non-core real estate is therefore expected to strengthen the company’s balance sheet without triggering additional corporate or shareholder approval requirements.
More about Indian Hume Pipe Co. Ltd.
Indian Hume Pipe Co. Ltd. is an Indian infrastructure and construction-related company primarily engaged in manufacturing and supplying reinforced cement concrete (RCC) and prestressed concrete pipes, along with related products and services for water supply, irrigation, sewerage and other water management projects across the country. Its operations cater largely to government and municipal projects, positioning the company as a key player in long-gestation civil infrastructure and utility networks.
Average Trading Volume: 2,277
Technical Sentiment Signal: Strong Buy
Current Market Cap: 21.9B INR
For an in-depth examination of INDIANHUME stock, go to TipRanks’ Overview page.