Forbes -; Company inks new agreement with Equinix for land sale; Stock soars 1.6%

25 Mar 2022 , 09:16 AM

The Board of Directors of Forbes & Company has approved entering into and execution of a new Agreement For Sale (AFS) with the same party Equinix India Private Limited (Equinix) for sale of approximately 15,394.50 square meters of land at Chandivali for an increased consideration of Rs235 crore.

Further, as per filing, the new Agreement for Sale is executed on March 24, 2022 and the completion of the said Transaction subject to fulfilment of conditions precedent is expected to be completed in Q1 of FY 2022-2023, said company.

On Friday early morning trade, Forbes & Company was trading at Rs429.70 per share higher by 1.6% on Sensex.