VIP Industries Assigns Lease of Non-Core Nagpur Property for ₹51.18 Crore
VIP Industries Limited has entered into binding agreements with DGP Realty Nagpur Private Limited, a wholly-owned subsidiary of Piramal Vibhuti Investments Limited (part of the Promoter Group), for th...
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Why is VIP Industries Limited in the news today?
VIP Industries Limited (VIPIND) is in the news due to the assignment of a non-core asset is a routine business transaction. while it involves a related party, it is not deemed material and is conducted at arm's length, indicating no significant positive or negative impact on the company's core operations or financials.
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VIP Industries Assigns Lease of Non-Core Nagpur Property for ₹51.18 Crore
December 31, 2025, 02:17 PM
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VIP Industries Limited has entered into binding agreements with DGP Realty Nagpur Private Limited, a wholly-owned subsidiary of Piramal Vibhuti Investments Limited (part of the Promoter Group), for the assignment of the lease of its non-core asset, the 'Nagpur Property'. This property is located at Plot no L4 & L5, Nagpur Industrial Area, Nagpur.
The transaction, valued at ₹51,18,37,000 (INR 51.18 Crore), is being carried out on an "as is where is basis" and is subject to the approval of the Maharashtra Industrial Development Corporation.
While the transaction is with a related party, it is not considered a material related party transaction for VIP Industries Limited as per SEBI Listing Regulations and the company's policy. The assignment is conducted at arm's length. This disclosure is made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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