Polychem Ltd Subsidiary Gujarat Poly Electronics Limited Sells Property to Tirex Transmission Private Limited for Rs. 29,00,00,000

Polychem Ltd announced that its subsidiary, Gujarat Poly Electronics Limited (GPEL), has entered into a deed of assignment for the sale of its property, which includes leasehold rights to a plot of land and ownership rights to a factory building, to Tirex Transmission Private Limited. The sale is valued at Rs. 29,00,00,000. GPEL has received provisional transfer orders from the Gujarat Industrial Development Corporation (GIDC) and both the Company and GPEL have obtained shareholders’ approval for the transaction. The transaction is expected to be completed once final transfer orders from the GIDC are obtained.