Penny stock under Rs 50: Panabyte Technologies Strategic Land Acquisition in Thane

Panabyte Technologies Limited has officially entered into a definitive agreement with Shubham Spaces to acquire a significant land parcel in Village Kalwar, Bhiwandi, District Thane. The agreement, executed on February 17, 2026, and formally recorded by the company on February 19, 2026, involves the purchase of 3,309 square meters of land designated as Survey No. 39/2. This acquisition is a core component of the company’s future business expansion strategy, providing the necessary footprint to develop and construct a state-of-the-art data center or manufacturing facility. The transaction is between unrelated parties, ensuring there is no impact on the current management or control of the listed entity.

The total contract value for this acquisition is set at Rs 4,90,60,500, structured through a phased payment schedule to facilitate the 24-month execution period. Panabyte Technologies has committed to an initial advance payment of 30 per cent, totalling Rs 1,47,18,150, paid upon the execution of the agreement. The remaining 70 per cent balance, amounting to Rs 3,43,42,350, is scheduled to be settled within a maximum window of two years. By securing this land in the industrial hub of Bhiwandi, the company is positioning itself to scale its infrastructure and operational capabilities in alignment with its long-term growth objectives.

About the Company

Panabyte Technologies Ltd, formerly known as Panache Innovations Ltd, is a company established in 1981 that deals in a wide range of products. They design and manufacture ICT and IoT devices, and offer various solutions, including Smart Computing Devices, Smart Classrooms, and Smart Asset Management.

Additionally, they distribute a vast array of products, including consumer electronics, fire alarm systems, IT hardware, sanitary products, telecom equipment, batteries, and lighting products. They even hold a brand license agreement with HYUNDAI for specific product categories in India. The company has a market cap of Rs 20 crore. The stock is up by 18.2 per cent from its 52-week low of Rs 26.63 per share.

Disclaimer: The article is for informational purposes only and not investment advice.