Kings Infra Ventures signs agreement with Karnataka Fisheries Development Corporation

Kings Infra Ventures has signed an agreement with Karnataka Fisheries Development Corporation (KFDC) for the usage of the freezing complex of KFDC in Bengaluru by Kings Infra. The freezing complex with cold storage and chiller facilities, spread over 7 acres of land, will be used by Kings Infra as the hub for its retail business.

The three-year lease agreement with KFDC allows Kings Infra to use the other infrastructure facilities in the complex for furthering the retail business development.

Kings Infra has made a foray into retailing with the launch of frozen products. The company also plans to launch ready-to-cook and ready-to-eat retail products. The freezing complex will be the hub center of Kings Infra to expand the retail business across South India.

Mr. K Ganesh - Managing Director KFDC, Mr. U Mahesh Kumar - General Manager KFDC, Mr. Chandru HS - Manager KFDC and Mr. Sujit Prasad - Manager KFDC were present during the signing of the lease agreement. Mr. Lalbert Cherian, CFO of Kings Infra signed the agreement on behalf of the company.

Shares of Kings Infra Ventures Limited was last trading in BSE at Rs. 110.72 as compared to the previous close of Rs. 104.86. The total number of shares traded during the day was 194997 in over 587 trades.

The stock hit an intraday high of Rs. 114.00 and intraday low of 107.00. The net turnover during the day was Rs. 21702588.00.

Source : Equity Bulls

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KingsInfraVentures INE050N01010 Agreement KFDC Bengaluru FreezingComplexUse