Batliboi has informed the BSE that it has concluded the process of sale of its land situated at plot no. 25/26, Deonar Ancillary Estate, Off Ghatkopar Mankhurd Link Road, Govandi (West), Mumbai - 400088, Mumbai. Further, the company has entered into a Memorandum of Understanding for sale of its industrial land situated at Plot No. 24, Veerasandra Industrial Area in Survey Nos. 32 and 33 (Pt.) of Veerasandra Village, AttibeleHobli, Anekal Taluka, Bangalore. The transactions are not related-party transactions and the buyer is not related to the promoter, promoter group or key managerial personnel. The stock of Batliboi jumped 9.09 per cent at ₹22.8 on the BSE.
Deepak Nitrite , which had entered into a deal in June 2014 to sell a land parcel measuring 12,141 sq metres, has completed the transaction for ₹69.60 crore. Further, the company has also surrendered its leasehold rights in respect of the adjoining land measuring 8,093 sq mts, situated at Sinhagad Road, Pune, for ₹9.66 crore. The company has now informed the exchanges that the transactions are not related-party transactions and the buyer is not related to the promoter, promoter group or any other key managerial personnel of the company. Shares of Deepak Nitrite closed at ₹70, up 1 per cent over the previous day’s close on the BSE.
The board of Bombay Rayon Fashions on Monday approved the issue of up to 56,321,428 equity shares of face value ₹10 each at a price of ₹165.88 a share aggregating to ₹934.26 crore on preferential basis to CDR lenders on conversion of working capital term loan and funded interest term loan into equity share capital, subject to approval of the members of the company by passing a special resolution. The current resolution will supersede the earlier resolution passed by the members at their extraordinary general meeting held on April 27. The board will call soon an EGM of the company’s shareholders to approve the proposal. The stock of Bombay Rayon gained 1.11 per cent at ₹145.7 on the BSE.