COMPLIANCE OF REGULATION 30 OF SEBI (LODR) REGULATIONS, 2015 - DISCLOSURE OF EVENTS OR INFORMATION SALE OF GN BLOCK, BKC QUARTERS (28 NOS.), MMRDA PLOT NO. R-4, BKC, BANDRA (E), MUMBAI 400 098 TO NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT (NABARD) THROUGH GOVERNMENT TO GOVERNMENT TRANSFER / DIRECT SALE
MTNL · price
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Awaiting price reaction for this filing.
MTNL has disclosed the sale of its GN Block quarters (28 residential units) at BKC and MMRDA Plot No. R-4, located at Bandra East, Mumbai, to NABARD (National Bank for Agriculture and Rural Development). The transaction will be executed as a government-to-government transfer or direct sale. The property is part of MTNL's non-core real estate holdings and is being divested under compliance with SEBI's Listing Obligations and Disclosure Requirements. Financial details of the deal, including the sale consideration, have not been disclosed in the headline.
This is a non-core asset sale that could bring in cash inflows for the debt-laden PSU, but the impact on shareholders depends on the sale price, which has not been disclosed. Short-term stock reaction is likely muted unless the transaction value is significant.