Greaves Cotton to sell land in Pune for Rs 320 cr
Chennai: Greaves Cotton has said that it will sell some of its land in Pune to Runal Developers for a total consideration of Rs 320 crore.
The money will be received in three tranches, the company said in its stock exchange notification on Thursday.
Greaves Cotton board approved the proposal to sell the land during its meeting on August 4.
“The company has signed a MOU with Runal Developers recording the commercial understanding, which shall be subject to the signing of definitive agreements on or before March 31, 2022 between the parties and necessary regulatory and statutory approvals,” said the Greaves Cotton.