rediff.com

Hindalco Sells Land in Maharashtra to Birla Estates Subsidiary for Rs 595 Crore

Share on:

By Rediff Money Desk, New Delhi   Jul 15, 2024 12:52

Hindalco Industries will sell a land parcel in Kalwa, Maharashtra to Ekamaya Properties Pvt Ltd, a subsidiary of Birla Estates, for Rs 595 crore. The transaction is subject to regulatory approvals.
Hindalco Sells Land in Maharashtra to Birla Estates Subsidiary for Rs 595 Crore
New Delhi, Jul 15 (PTI) Hindalco Industries on Monday said it will sell a land parcel at Kalwa, in Maharashtra to Ekamaya Properties Pvt Ltd, a wholly-owned subsidiary of Birla Estates Pvt Ltd for Rs 595 crore.

On July 12, 2023, the company had said that the Board of Directors had approved a proposal for sale of a land parcel situated at Kalwa, Maharashtra, to Birla Estates Private Ltd.

"... The aforesaid transaction shall now be entered into with Ekamaya Properties Pvt Ltd, a wholly-owned subsidiary of Birla Estates Pvt Ltd (instead of Birla Estates Pvt Ltd)," Hindalco Industries said in a regulatory filing on Monday.

The transaction is subject to signing of definitive documents, completion of customary closing conditions and receipt of regulatory approvals, it said.

Hindalco Industries operates across the value chain, from bauxite mining, alumina refining, coal mining, captive power plants and aluminium smelting to downstream rolling, extrusions, and foils.

Along with its subsidiary Novelis, Hindalco Industries is the global leader in flat-rolled products and the world's largest recycler of aluminium.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.

TODAY'S MOST TRADED COMPANIES

  • Company Name
  • Price
  • Volume

More »

Moneywiz Live!