Hindustan Construction Company sells entire 26 % stake in Vikhroli Corporate Park
While HCC owned 26 % of the stake, the remaining 74 % is owned by ILFS Milestone Fund and others, HCC Ltd said in a filing to the BSE.
By PTI | Updated:
NEW DELHI: Hindustan Construction Company (HCC) today said it has sold its entire 26 per cent stake in Mumbai-based Vikhroli Corporate Park to Blackstone Purchase Entities for about Rs 200 crore.
While HCC owned 26 per cent of the stake, the remaining 74 per cent is owned by ILFS Milestone Fund and others, HCC Ltd said in a filing to the BSE.
"This transaction is an integral part of our plans to monetise our non-core assets to further reduce our debts. the funds will be used to pare debts," HCC Group Chief Operating Officer Rajgopal Nogja said.
Through more such activities, the company is confident of bringing long-term stability to our balance sheet, he added.
HCC shares were trading at Rs 29.45 apiece on the BSE, up 1.73 per cent from its previous close.
While HCC owned 26 per cent of the stake, the remaining 74 per cent is owned by ILFS Milestone Fund and others, HCC Ltd said in a filing to the BSE.
"This transaction is an integral part of our plans to monetise our non-core assets to further reduce our debts. the funds will be used to pare debts," HCC Group Chief Operating Officer Rajgopal Nogja said.
Through more such activities, the company is confident of bringing long-term stability to our balance sheet, he added.
HCC shares were trading at Rs 29.45 apiece on the BSE, up 1.73 per cent from its previous close.
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