Banaras Beads Limited has informed the Exchange regarding ''.purchased property / Land having area 1680 Sq. Mtr. at Village Karnadandi, Varanasi amounting Rs. 6,76,85,731 from Varanasi Development Authority (VDA) through Bid. to take loan from HDFC Bank.
BANARBEADS · price
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Banaras Beads Limited has purchased a land parcel measuring 1,680 square metres at Village Karnadandi, Varanasi, for Rs. 6,76,85,731 (approximately Rs. 6.77 crores). The property was acquired from the Varanasi Development Authority (VDA) through a bidding process. The company plans to fund this purchase by taking a loan from HDFC Bank. The company has informed the stock exchange about this asset acquisition and the associated borrowings.
This adds to the company's fixed assets and introduces new debt on the balance sheet, which could increase interest costs going forward. For retail investors, this signals a moderate capital expenditure by the company, but the impact on stock price is likely to be limited unless the land is part of a larger expansion plan.