• search

Graphite India unlocks surplus real estate in B'lore for Rs 111 cr.

Written by: Staff

Mumbai, Apr 24 (UNI) Graphite India Ltd has entered into an agreement with Prestige Group, one of the leading developers in Bangalore for sale of surplus land at Whitefield, Bangalore for Rs 111 crore.

Announcing this to BSE, the company said this transaction would enable it to unlock value in respect of this dormant asset and to utilise the proceeds for meeting the company's future expansion plans. The leveraging capability of Graphite India would also increase significantly enabling it to aggressively pursue fresh opportunities; both organic and inorganic.

Commenting on the transaction, Graphite India Chairman K K Bangur said, ''This transaction is an important milestone in the history of the company. These additional resources would create a strong platform for accelerating the growth process of the company and enhance shareholders value.'' UNI SN PP SKB1936

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more