NXTDIGITAL LIMITED - Updates

14 Jan 2022 , 12:00 AM

NXTDIGITAL LIMITED has informed the Exchange regarding Intimation Pursuant To Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015.This is to inform you that NXTDIGITAL Limited has yesterday, 13th January 2022, successfully completed the transaction of sale of land parcel held by it in Hyderabad. The Sale Agreement was signed and registered with the appropriate authorities in Hyderabad on 13th January, 2021 and the balance consideration received. The total consideration for the sale of the land parcel is Rs. 69.30 crores. This results in a cash inflow of Rs. 69.30 crores which is being utilised to further reduce debt in line with its debt reduction plans. The debt already having been reduced by Rs. 260 crores pursuant to the recently concluded Rights Issue will further stand reduced by the sale consideration mentioned above. With the above two steps the debt to equity ratio of the Company has dropped to approximately to 1.5 times. The Company has realised a profit of approximately Rs 45 crores on the transaction.