Orbit's Mumbai plot to change hands in 7-10 days
Orbit Corporation's two-acre land in the suburban Kalina is set to change hands in the next seven to ten days.
By PTI |
MUMBAI: Orbit Corporation's two-acre land in the suburban Kalina is set to change hands in the next seven to ten days, a top company official said on Monday.
The company is in talks with two big coporate houses in Mumbai and hopes to sign the memorandum of understanding (MoU) with the prospective buyer in the next seven to ten days.
"We are in talks with two large corporates and hope to sign the MoU in the next six to seven days," Orbit's Managing Director Pujit Agarwal said.
Declining to reveal the identities of the prospective buyers, he said no third-party is involved with the deal. "We are doing it directly."
Industry sources said Mukesh Ambani-led Reliance Retail and Sajjan Jindal's JSW Group are leading the pack of interested buyers. However, this could not be confirmed.
Whoever buys it, Orbit is set to net more than Rs 500 crore by selling the plot, which it had bought from Gujarat Ambuja Cements for Rs 333 crore earlier this year.
The company is in talks with two big coporate houses in Mumbai and hopes to sign the memorandum of understanding (MoU) with the prospective buyer in the next seven to ten days.
"We are in talks with two large corporates and hope to sign the MoU in the next six to seven days," Orbit's Managing Director Pujit Agarwal said.
Declining to reveal the identities of the prospective buyers, he said no third-party is involved with the deal. "We are doing it directly."
Industry sources said Mukesh Ambani-led Reliance Retail and Sajjan Jindal's JSW Group are leading the pack of interested buyers. However, this could not be confirmed.
Whoever buys it, Orbit is set to net more than Rs 500 crore by selling the plot, which it had bought from Gujarat Ambuja Cements for Rs 333 crore earlier this year.
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