Safari Manufacturing Limited purchases land with constructed property for Rs. 21.38 crore

Safari Manufacturing Limited i.e. Safari Industries (India) Limited's wholly owned subsidiary has executed a Deed of Conveyance with Lear Automotive (India) Private Limited today i.e. on 17th December 2021 for the purpose of purchase of land with constructed property along with the buildings and utilities present on site situated at Mouje: Halol, Taluka Halol, District Panchmahal, Gujarat ("said property") for a total consideration of INR 21,38,45,000/- (INR Twenty-One Crore Thirty Eight Lakh and Forty Five Thousand Only) including all taxes, if any. The said property is proposed to be used for setting up Luggage manufacturing unit of Safari Manufacturing Limited.

The aforesaid Deed of Conveyance is the first phase of the transaction which is the larger piece of land with constructed property along with the buildings and utilities present on site. The Company will execute separate Deed of Conveyance for the second phase of the transaction in due course after obtaining necessary approvals, if any.

Shares of Safari Industries (India) Limited was last trading in BSE at Rs. 891.65 as compared to the previous close of Rs. 893.40. The total number of shares traded during the day was 435 in over 124 trades.

The stock hit an intraday high of Rs. 893.40 and intraday low of 859.65. The net turnover during the day was Rs. 380286.00.

Source : Equity Bulls

Keywords

SafariIndustriesIndia INE429E01023 SafariManufacturing Land ConstructedProperty Gujarat Purchase