Tirupati Foam Board Approves Sale of Noida Land for ₹30 Cr

Tirupati Foam Limited's Board of Directors has approved the sale of surplus land and a building located in Noida. The transaction, subject to shareholder approval at the upcoming 39th Annual General Meeting, is expected to fetch a consideration of not less than ₹30 Crore. The sale involves approximately 9325 Sq. Meters of land at Plot No. 5, Ecotech I, Extension Greater Noida Industrial Area. The company stated that the sale will not impact its business operations as minimal operations were conducted on the said property. The purchaser, Neumann Components Pvt Ltd, is an independent party, and the transaction does not involve related parties or constitute a sale of substantially the whole undertaking. The deal is expected to be completed within six months post-shareholder approval.