Rallis India to sell its surplus land for Rs 90 cr
The land sale is subject to fulfillment of the satisfactory completion of due diligence by R R Mega Property Developers with respect to the title of the company to the property.
By PTI |
MUMBAI: Rallis India, which manufactures and markets agricultural products like pesticides and fertilizers, on Friday said it would sell its surplus industrial land in Hyderabad to R R Mega Property Developers Pvt Ltd for an estimated Rs 90 crore.
The Tata group subsidiary manufactures and markets products for agriculture such as pesticides and fertilizers.
In a filing to the Bombay Stock Exchange, the firm informed it had entered into an agreement with R R Mega Property Developers, nominees of Peninsula Land Ltd, for the sale of 31 acres of surplus industrial land at Patancheru near Hyderabad.
The land sale is subject to fulfillment of certain conditions including, among other things, the satisfactory completion of due diligence by R R Mega Property Developers with respect to the title of the company to the property.
Shares of the company closed at Rs 411.65, up 4.27 per cent on the BSE.
The Tata group subsidiary manufactures and markets products for agriculture such as pesticides and fertilizers.
In a filing to the Bombay Stock Exchange, the firm informed it had entered into an agreement with R R Mega Property Developers, nominees of Peninsula Land Ltd, for the sale of 31 acres of surplus industrial land at Patancheru near Hyderabad.
The land sale is subject to fulfillment of certain conditions including, among other things, the satisfactory completion of due diligence by R R Mega Property Developers with respect to the title of the company to the property.
Shares of the company closed at Rs 411.65, up 4.27 per cent on the BSE.
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