Mukand stock jumps 6% after signing agreement for sale of land for Rs806.14 crore

3 Mar 2022 , 10:04 AM

Mukand Ltd has informed that the Company has executed an Agreement for Sale (AFS) on March 1, 2022 for the sale of land of the Company admeasuring approx. 47 acres situated at Kalwe and Dighe, in Thane district for a consideration of Rs806.14 crore.

Of this, part consideration of Rs161,22,80,000/-, (being a sum equivalent to 20% of the sale consideration) is required to be deposited by the purchaser as earnest money deposit, in an escrow account, within 7 days of execution of AFS, said Company.

Further as per regulatory filing, the aforesaid sale is subject to fulfilment of certain conditions precedent by the parties.

At around 10:08 AM, Mukand was trading at Rs137.05 apiece up by Rs7.75 or 5.99% on the BSE.