Shalimar Paints' subsidiary will sell a Gurgaon property for ₹50 crore. The deal, expected by November 2026, aims to monetize assets. The subsidiary reported negligible income and a net worth of ₹14.74 crore.
Shalimar Paints Subsidiary Sells Gurgaon Property for ₹50 Crore
Shalimar Adhunik Nirman Limited, a subsidiary of Shalimar Paints Limited, will sell a property in Gurugram for ₹50 crore. Reader Takeaway: Asset monetization brings cash inflow, but subsidiary's income was nil last fiscal year. ## What just happened Shalimar Adhunik Nirman Limited has entered into an agreement to sell its property located at Plot no. 75, Sector 32, Urban Estate Gurgaon II, Gurugram. The total sale consideration is ₹50 crore, to be received in tranches before the sale deed registration. ## Why this matters This transaction represents an asset monetization for the subsidiary, unlocking liquidity from a real estate holding. The sale proceeds will provide a cash inflow for the subsidiary. ## The backstory As of March 31, 2026, the subsidiary's net worth stood at ₹14.74 crore. Its income for the financial year 2026 was reported as Nil. The net worth contribution of the subsidiary to the parent company is 6.20%. ## What changes now The deal is expected to be completed by November 20, 2026. It is an arm's length transaction with Sparton Growth Comtrade Private Limited, a non-related party. The agreement is outside the Scheme of Arrangement and does not fall under Regulation 37A of Listing Regulations or Section 180(1)(a) of the Companies Act, 2013. ## Risks to watch Investors should track the timely completion of the sale by the stipulated deadline. Monitoring the utilization of the proceeds will be key. ## Peer comparison N/A ## Context metrics (time-bound) Sale Consideration: ₹50 crore Target Completion Date: November 20, 2026 Subsidiary Net Worth (FY26): ₹14.74 crore Subsidiary Income (FY26): Nil Net Worth Contribution: 6.20% ## What to track next Confirmation of sale deed registration and receipt of sale proceeds. Any future announcements regarding the deployment of these funds.
