Piramal Glass Sri Lankan unit to sell its balance land

NEW DELHI: Piramal Glass, a leading glass container manufacturer, on Wednesday said its subsidiary in Sri Lanka, Piramal Glass Ceylon PLC, has agreed to sell its balance land.

Piramal Glass Ceylon PLC would sell its balance land at Rathmalana in Sri Lanka for Rs 18.76 crore approximately, the company said in a filing to BSE.

"Piramal Glass Ceylon PLC has on July 17, 2013 agreed to sell the balance portion of its Land at Rathmalana for a consideration of Sri Lankan Rupees 415 Million (equivalent to Rs 187.66 Million approximately)," the company said.

The final sale transaction is likely to be completed on or before November 30, 2013.

Shares of Piramal Glass were trading at Rs 93 per scrip in the afternoon trade, up 2.37 per cent from their previous close.