Mukand Receives ₹59.29 Crore Second Tranche for Kalwa Land

MUMBAI — Mukand Limited announced on Wednesday, August 19, 2026, that it has successfully received ₹59.29 crore (592.9 million rupees) as the second tranche of part consideration from AGP DC Infra Private Limited for the ongoing sale of land parcels situated at Kalwa in Thane district.

The corporate update, submitted to the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE), follows the execution of a definitive term sheet signed on July 15, 2026. The overarching agreement involves the monetization of approximately 9.2 acres of land parcels and associated infrastructure rights in the Kalwa industrial corridor.

Unlocking Asset Value and Corporate Debt Optimization

The asset monetization strategy forms part of Mukand’s broader financial restructuring initiative to streamline operations and strengthen its balance sheet. By divesting non-core land holdings in the Mumbai Metropolitan Region, the engineering and specialty steel manufacturer continues to generate substantial liquidity without disrupting core manufacturing activities.

According to official stock exchange filings, regulatory disclosures, and corporate notices:

• Tranche Details: The company received ₹59.29 crore on August 19, 2026, marking the fulfillment of the second payment milestone outlined in the July term sheet.

• Asset Scope: The underlying transaction covers approximately 9.2 acres of land in Kalwa, Thane, alongside non-exclusive rights of way.

• Purchaser Entity: The land parcels are being acquired by AGP DC Infra Private Limited, a prominent infrastructure and industrial real estate developer.

• Operational Continuity: Company management reiterated that the asset sale does not constitute a transfer of a substantial undertaking under Section 180(1)(a) of the Companies Act, ensuring uninterrupted industrial operations.

Official Sources Section

• BSE India Corporate Disclosures: Official material event notifications and regulatory compliance updates submitted by Mukand Limited (BSE: 500460 / MUKANDLTD).

• National Stock Exchange of India (NSE): Exchange reporting archives regarding land sale milestones and financial tranches.

Quote Section

According to statements released by Mukand Limited Company Secretary Rajendra Sawant in official regulatory filings:

"Further to our letter dated July 15, 2026, for the execution of the term sheet with AGP DC Infra Private Limited for the sale of land at Kalwa, we wish to inform you that the company has received ₹59.29 crore towards the second tranche of part consideration."

Why It Matters

For institutional investors, bondholders, and market analysts, consistent progress in land monetization highlights management's execution capability in unlocking dormant real estate value. Cash inflows generated from these transactions provide vital capital to reduce debt obligations and fund working capital requirements.

Key Facts at a Glance

• Company Name: Mukand Limited.

• Milestone: Receipt of ₹59.29 crore second tranche payment.

• Counterparty: AGP DC Infra Private Limited.

• Asset Location: Kalwa, Thane district, Maharashtra.

FAQ Section

What is the purpose of Mukand's land sale in Kalwa? The transaction is designed to monetize non-core land assets in Thane to optimize the company's financial position and reduce debt.

How much was received in the second tranche payment? Mukand received ₹59.29 crore (592.9 million rupees) from AGP DC Infra Private Limited on August 19, 2026.

Does the land sale impact Mukand's core manufacturing operations? No, management has confirmed that the asset sale is non-operational and does not affect the company's ongoing manufacturing activities.

Where can investors verify official disclosures regarding this transaction? Official exchange filings and regulatory notifications are published directly on the BSE and NSE portals.

Source: BSE India, NSE India, EquityBulls