Please find enclosed intimation for update on sale of industrial plots including existing building structures thereon located at Wagale Thane Industrial Area, Maharashtra
WINDMACHIN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Windsor Machines has signed an MOU with Allerindia Developers LLP for selling its non-operational industrial plots (E-6 and E-6(A)) at Wagale Thane Industrial Area, Maharashtra. The plots span 21,912 sq. meters with building structures. The transaction value is Rs. 162 crore to be received in multiple tranches over a period. Expected completion is within 6 months. The Thane plant has been non-operational with no revenue contribution. The company plans to use sale proceeds to expand its Rajkot Plant operations, fund working capital, and general corporate purposes. The buyer is not a related party and the transaction is at arm's length.
Positive for shareholders as the company monetizes idle assets at market value and channels Rs. 162 crore into expanding core plastic processing machinery operations. The stock could see upward movement given the non-operational asset being converted into growth capital.