Indag Rubber Ltd updates on commencement of Lease Agreement for MRO Facility at Bhiwadi

Indag Rubber Ltd had earlier announced about the leasing of MRO Facility at Bhiwadi to Elcom Systems Pvt. Limited to be constructed in two phases, on monthly rent of Rs. 36 psf which shal l be increased by 12% after every 3 years, for a lease period of 9 years and 6 months, (lock -in period of 9 years).

Due to ongoing COVID 19 pandemic and delay in completion of Civil Work for construction and setting up of MRO facility at Bhiwadi, Rajasthan, both the parties had mutually agreed on November 23, 2021 that the lease period of 9 years and 6 months shall commence w.e.f September 01, 2021 for a monthly rent of Rs. 36 psf on total area of 102640 sq. ft constructed under phase I.

Shares of INDAG RUBBER LTD. was last trading in BSE at Rs. 79.85 as compared to the previous close of Rs. 80.95. The total number of shares traded during the day was 10158 in over 190 trades.

The stock hit an intraday high of Rs. 82.70 and intraday low of 78.90. The net turnover during the day was Rs. 817202.00.

Source : Equity Bulls

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INDAGRUBBERLTD INE802D01023 MROFacility LeaseAgreement Bhiwadi