Mukand Limited completes leasehold land transfer for Rs. 679.25 crore

Mukand Limited had earlier announced proposal to transfer the leasehold land admeasuring 2,19,938 sq. mtrs. (approx. 54.34 acres), together with the structures standing thereon, situated at Trans Thane Creek Industrial Area (TTC Industrial Area), Dighe and Navi Mumbai, Taluka, sub-district and district Thane for a lumpsum consideration of Rs. 679.25 crore plus applicable taxes, subject to fulfilment of certain conditions precedent by the parties.

On 26th March, 2021, the Company has completed the transfer of above referred leasehold land to NTT Global Data Centers NAV2 Pvt. Ltd. and has received an aggregate consideration of Rs. 679,25,00,000 (Rupees Six Hundred and Seventy Nine Crore and Twenty-five Lakhs only) plus applicable taxes, which shall, amongst other things, be utilised mainly for repayment of debts of the Company.

Shares of MUKAND LTD. was last trading in BSE at Rs.57.15 as compared to the previous close of Rs. 55.85. The total number of shares traded during the day was 36174 in over 267 trades.

The stock hit an intraday high of Rs. 59.95 and intraday low of 57.1. The net turnover during the day was Rs. 2119015.

Source : Equity Bulls

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