WS Industries India Ltd acquires 254 acres land at Sunguvarchatram, Tamil Nadu

The Board of Directors of W.S. Industries (India) Limited was held today to review the operations of the Company, general corporate matters and to consider and approve acquisition of asset through e-auction.

In the pursuit of evaluating new business opportunities, the Company has participated in the online e-auction bid under SARFAESI Act 2022 conducted by Central Bank of India, SAM Hyderabad branch on 09.03.2023 through their service provider IBAP/MSTCECOMMERCE Portal for the property ID No:CBIN02851331 measuring to an extent of 254 acres situated at Sunguvarchatram, Sriperumbudur Taluk, Kancheepuram District of Tamil Nadu. Our Company's offer of INR 107,35,00,000/- (Rupees One Hundred Seven Crores and Thirty Five Lakhs only) being the highest bid, the Company was declared as the successful bidder. The Company has received the sale intimation letter dated 09.03.2023 from Central Bank of India.

The Board has approved the payment of Rs.26,87,50,000/- (Rupees Twenty Six Crores Eighty Seven Lakhs Fifty Thousand only) as per auction norms.

The Board has in principle formulated plans to develop a modern logistics park and in consultation with architects to develop an integrated township with attendant infrastructure.

Source : Equity Bulls

Keywords

WSIndustriesIndia AssetAcquisition eAuction 254Acres Land Sunguvarchatram TamilNadu SuccessfulBidder LogisticsPark IntegratedTownship