NXTDIGITAL Ltd sells land in Hyderabad for Rs. 69.30 crores

NXTDIGITAL Limited has yesterday, 13th January 2022, successfully completed the transaction of sale of land parcel held by it in Hyderabad. The Sale Agreement was signed and registered with the appropriate authorities in Hyderabad on 13th January, 2021 and the balance consideration received.

The total consideration for the sale of the land parcel is Rs 69.30 crores. This results in a cash inflow of Rs 69.30 crores which is being utilised to further reduce debt in line with its debt reduction plans. The debt already having been reduced by Rs 260 crores pursuant to the recently concluded Rights Issue will further stand reduced by the sale consideration mentioned above. With the above two steps the debt to equity ratio of the Company has dropped to approximately to 1.5 times.

The Company has realised a profit of approximately Rs 45 crores on the transaction.

Shares of NXTDIGITAL LIMITED was last trading in BSE at Rs. 408.20 as compared to the previous close of Rs. 404.75. The total number of shares traded during the day was 22787 in over 648 trades.

The stock hit an intraday high of Rs. 418.00 and intraday low of 386.95. The net turnover during the day was Rs. 9169497.00.

Source : Equity Bulls

Keywords

NXTDIGITAL INE353A01023 LandSale Hyderabad DebtReduction