Rane Madras Sells 3.48 Acres Land for ₹361.18 Crore, Receives ₹200 Crore
Rane Madras Limited has finalized the sale of 3.48 acres of land in Velachery, Chennai, for a total consideration of ₹361.18 crore. The company has received ₹200 crore to date, with the balance payment due as per the agreement terms. Possession has been transferred.
The sale of a land parcel represents a non-core asset disposal which will improve liquidity and potentially reduce debt or fund other strategic initiatives. The value is significant but does not represent a fundamental shift in the company's core business operations.
The sale of surplus land for a significant amount and the receipt of a substantial portion of the payment are positive financial developments for the company.
Rane (Madras) Limited has announced the completion of the sale of a surplus land parcel measuring 3.48 acres, located at 154, Velachery Main Road, Velachery, Chennai. The transaction was finalized today, September 30, 2026, with the transfer of possession and recording of the sale.
The agreement to sell was entered into with Canopy Living LLP, and upon fulfillment of stipulated conditions, the sale has been executed. The total consideration for the land is ₹361.18 crore. The company has already received ₹200 crore to date, with the balance consideration to be received as per the terms of the agreement.
This update follows previous communications regarding the sale, referenced by letters RML/SE/038/2025-26 dated June 17, 2025, and RML/SE/042/2025-26 dated June 27, 2025. The company has informed the stock exchanges for compliance under SEBI LODR regulations.
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Rane (Madras) Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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