Elantas Beck India Ltd to sell property at Erandwane, Pune

The Board of Directors of Elantas Beck India Ltd vide its resolution dated October 04, 2016 has granted it's in-principle approval for the sale of Company's Property at Beck House, Sub Plot no. 2,3,4,5 (part) of Final Plot No. 85, Erandwane, Pune - 411004 admeasuring 2238.25 sq. mts. approx to Mr. Ajay Pitre, Pune including through his family members or legal entities nominated by him, at a lumpsum consideration of not less than Rs. 24,00,00,000/- (Rupees Twenty Four Crores).

The approval is subject to the terms and conditions to be agreed vide Memorandum of Understanding to be executed between the Company and Mr. Ajay Pitre, Pune and also subject to the compliance of the regulatory requirements and due diligence.

The proposal will be finally approved at the forthcoming meeting of the Board scheduled to be held on October 25, 2016.

Shares of ELANTAS BECK INDIA LTD. was last trading in BSE at Rs.1680 as compared to the previous close of Rs. 1664.35. The total number of shares traded during the day was 3286 in over 371 trades.

The stock hit an intraday high of Rs. 1743 and intraday low of 1661.1. The net turnover during the day was Rs. 5583767.

Source : Equity Bulls

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