Vesuvius India Limited has informed the Exchange under Regulation 30 of SEBI LODR about the Sale of Land along with the structures at Plot Nos. 13, 14 and 15 Block E, IDA, Visakhapatnam- 530012 for a total consideration of Rs. 30,51,00,000/-
VESUVIUS · price
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Vesuvius India has informed the stock exchange about the sale of land along with structures located at Plot Nos. 13, 14 and 15, Block E, IDA, Visakhapatnam – 530012. The total consideration for the sale is Rs. 30,51,00,000 (approximately Rs. 30.51 crores). The disclosure was made under Regulation 30 of SEBI LODR. The exact buyer and use of proceeds have not been mentioned in the headline filing.
This is a relatively modest one-time asset sale for the company. It will boost cash on the balance sheet and may result in a one-time gain in the P&L, depending on the book value of the land. Shareholders should note this is likely a routine monetisation of surplus land and not a strategic shift in business.