Joint Venture31 Dec 2025, 07:32 pm
VIP Industries Ltd Assigns Lease of Non-Core Asset 'Nagpur Property' to DGP Realty Nagpur Private Limited
AI Summary
VIP Industries Ltd has entered into binding agreements with DGP Realty Nagpur Private Limited, a wholly owned subsidiary of Piramal Vibhuti Investments Limited, for the assignment of lease of its non-core asset 'Nagpur Property'. The property is located at Plot no L4 & L5 Nagpur Industrial Area, Nagpur. The transaction is not a material-related party transaction and is being carried out at arm’s length for INR 51,18,37,000. The assignment is subject to receipt of approval from the Maharashtra Industrial Development Corporation.
Key Highlights
- VIP Industries Ltd assigns lease of its non-core asset 'Nagpur Property' to DGP Realty Nagpur Private Limited
- DGP Realty Nagpur Private Limited is a wholly owned subsidiary of Piramal Vibhuti Investments Limited, which forms part of the Promoter Group of VIP Industries Ltd
- The transaction is a related party transaction but not a material one
- The transaction is being carried out at arm’s length for INR 51,18,37,000
- The assignment is subject to receipt of approval from the Maharashtra Industrial Development Corporation