Mukand Limited has informed the Exchange about Agreements
MUKANDLTD · price
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Mukand Limited has signed an agreement to sell approximately 17.77 acres of land along with access road rights and right of way at Kalwe and Dighe in Thane district for about Rs. 673 crore (at not less than Rs. 86,980 per sq. metre). The buyer is AGP DC Infra Private Limited, a Bengaluru-based company unrelated to the promoters. Mukand has already received an advance of Rs. 110 crore from the buyer. The sale is subject to government approvals, NOCs, and satisfactory due diligence, and is expected to complete within 30 days of conditions being met. The company has stated the sale is to unlock value and will not affect its operations.
This is a significant value-unlocking move for Mukand shareholders, with Rs. 673 crore coming in from non-core land assets. The cash inflow could strengthen the balance sheet or fund growth, though completion depends on regulatory approvals and due diligence.