Key Transaction Details
Ref No: KIVL/BSE/SEC/967
Asset Being Sold
The Company's freehold land admeasuring 51.989 cents (21.04 Ares), comprised in Survey Nos. 252/17 and 252/18 (Old Survey Nos. 252/11 and 252/11/2), covered under Sale Deed No. 7914/2007 together with Rectification Deed No. 3669/2019. The property is situated at Block No. 8, Chengamanadu Village, Aluva Taluk, Ernakulam District, Kerala.
Purchaser Details
Name: Mr. Noel Thomas John
Consideration
Price per cent: ₹7,00,000 (Rupees Seven Lakhs only)
Total aggregate consideration: ₹3,64,92,300 (based on 51.989 cents at ₹7 lakh per cent)
Purpose/Rationale
As part of the Company's ongoing strategy to monetize non-core assets and optimize the utilization of its resources. The transaction is expected to unlock the value of the asset and generate funds for deployment towards the Company's business requirements and other corporate purposes, thereby strengthening its financial position.
Expected Completion Date
The transaction will be completed upon execution and registration of the Sale Deed and fulfilment of the agreed terms and conditions.
Related Party Status
Whether the transaction is between related parties: No
Whether the promoter/promoter group has any interest in the transaction: No
Additional Information
Other material information: Nil