Lease deed executed with SIPCOT for 25.08 acres at Oragadam to set up an industrial unit

Avalon Technologies Ltd has executed a Lease Deed with SIPCOT (State Industries Promotion Corporation of Tamil Nadu Ltd).

Thu 8 Oct 2026

Land Size

25.08 acres

Lease Tenure

ninety-nine years

Location

Plot No. A-53 & A-54, SIPCOT Industrial Park, Oragadam, Kancheepuram District, Tamil Nadu

What was announced

• Avalon Technologies Limited has executed a Lease Deed with the State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT).
• The land is located at Plot No. A-53 & A-54, SIPCOT Industrial Park, Oragadam, Kancheepuram District, Tamil Nadu.
• The stated purpose is setting up an industrial unit.

Size and tenure at a glance

• Land admeasuring 25.08 acres.
• Lease period of ninety-nine years.
• The agreement is between the Company and SIPCOT; SIPCOT holds no shareholding in the Company.

Other terms disclosed

• No special rights such as the right to appoint directors, first right to share subscription in case of issuance of shares, or right to restrict any change in capital structure are conferred on either party.
• Only the customary rights and obligations arising under the lease agreement with SIPCOT apply.
• The said parties are not related to the promoter, promoter group or group companies in any manner.
• The transaction does not fall within related party transactions.
• There is no nominee on the board of the listed entity and no potential conflict of interest arising out of the agreement.

What this means in simple terms

A lease deed is a formal agreement that gives the company the right to use a piece of land for a defined period. Here, the company has secured a large parcel of land in an industrial park for a very long tenure, with the stated aim of putting up an industrial unit. A step like this is generally associated with setting up or expanding manufacturing capacity.

The lease is with a state government industrial promotion corporation, and the company has confirmed that this is not a related party transaction and that no special rights have been granted to either side beyond the usual lease terms.

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