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Kirloskar Electric board approves to sell its land at Hubbali for Rs100cr

Marvel Properties & Asmakam Infra Projects Private Limited is the proposed purchaser for the property.

January 05, 2022 9:16 IST | India Infoline News Service
Kirloskar Electric Company Ltd has informed that the Board of Directors of the Company have accorded its approval for the sale of Company’s non-core asset situated at Hubbali i.e., immovable property admeasuring 32 acres situated at Rayanal Village, Hubbali Taluk, Dharwad Dist, Karnataka.

As per regulatory filing, the total Consideration for the proposed sale would be Rs100cr and Marvel Properties & Asmakam Infra Projects Private Limited is the proposed purchaser for the above property.

At around 9:16 AM, Kirloskar Electric Company was trading at Rs25.40 per piece higher by 4.96% on Sensex.

Previously, the scrip ended at Rs24.20 per piece.

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