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Safari Industries' subsidiary buys land with constructed property for Rs21.38cr; Stock dips 2%

The property is proposed to be used for setting up Luggage manufacturing unit of the subsidiary company.

December 20, 2021 9:17 IST | India Infoline News Service
Stock Market Trader, Stock Trader, Trading
Safari Industries (India) Ltd has informed that Safari Manufacturing Limited i.e. Company’s wholly owned subsidiary has executed a Deed of Conveyance with Lear Automotive (India) Private Limited on December 17, 2021.

According to the regulatory filing, the purpose of purchase of land with constructed property along with the buildings and utilities present on site situated at Mouje: Halol, Taluka Halol, District Panchmahal, Gujarat for a total consideration of Rs21,38,45,000/- (INR Twenty-One Crore Thirty Eight Lakh and Forty Five Thousand Only) including all taxes, if any.

Further, the said property is proposed to be used for setting up Luggage manufacturing unit of Safari Manufacturing Limited.

At around 9:17 AM, Safari Industries (India) was trading at Rs872.95 per piece down by 2.10% on Sensex.

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