Steel Strips Wheels renews Gujarat building lease from subsidiary

Agreement
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Blacklitt Research23 October 20262 min read

Steel Strips Wheels (NSE: SSWL) has renewed the term of a lease under which it takes an administrative building in Bhuj, Gujarat, from its wholly owned subsidiary AMW Autocomponent Limited, it said in a filing on 23 Oct 2026. The monthly rent is ₹45 lakh.

What the renewal covers

The board approved renewing the term of a lease under which Steel Strips Wheels takes an administrative building on Bhuj-Bhachau Road, near Village Kannaiyabe in Kachchh, Bhuj, Gujarat, from AMW Autocomponent Limited (AACL). The building measures 288793.19 sq mt. The renewal runs for up to five years from 26 Nov 2026 and can be extended from time to time as may be required.

Only the term is renewed. The company says the premises are taken on the same terms and conditions as previously approved, and that the transaction is done on an arm's length basis. The monthly rent is ₹45 lakh.

Why it is a related party deal

AACL is a wholly owned subsidiary, and the company holds 100% of its shares, so the company classes the lease as a related party transaction. The renewal follows an intimation dated 26 Dec 2025 in which the board approved the earlier lease renewal.

The company's market value was ₹6,140 crore at the 22 Oct 2026 close. The same day, a separate filing reports the appointment of Pranav Jain as Vice President (Finance & Accounts), which is not part of this lease.

What the lease renewal means for Steel Strips Wheels's shareholders

The company's premises arrangement is with its own wholly owned subsidiary, and the filing describes the terms as unchanged apart from the period. The next dated step is the start of the renewed term on 26 Nov 2026.

Not stated: the total value of the lease beyond the monthly rent, the reason for renewing it, and whether the Bhuj premises are used for the company's operations in Gujarat.

At a glance

Item	Detail
Lessor	AMW Autocomponent Limited (AACL), wholly owned subsidiary
Lessee	Steel Strips Wheels Limited
Property	Administrative building, Bhuj-Bhachau Road, Kachchh, Bhuj, Gujarat 370020
Area	288793.19 sq mt
Monthly rent	₹45 lakh
Term	Up to 5 years from 26 Nov 2026, extendable
Company holding in AACL	100%
Filing date	23 Oct 2026

Reference: Original filing (PDF)

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