SPEL Semiconductor Limited to sell 8.14 acres land in Maraimalai Nagar

The Shareholders of SPEL Semiconductor Limited in the 38th Annual General Meeting of the Company held on September 21, 2023 approved proposal to sell or transfer or otherwise dispose of the land of the Company to an extent of not exceeding 8.14 Acres situated at 5, CMDA Industrial area Maraimalai Nagar - 603209.

The transaction is subject to signing of Definitive documents, completion of customary closing conditions under the Definitive documents and receipt of regulatory approvals, if any.

The consideration to be received from the above sale is Rs. 30 Crores (Rupees Thirty Crores only) and shall be reviewed and finalized on the date of execution of Definitive documents.

Shares of SPEL SEMICONDUCTOR LTD. was last trading in BSE at Rs. 55.50 as compared to the previous close of Rs. 52.86. The total number of shares traded during the day was 36497 in over 422 trades.

The stock hit an intraday high of Rs. 55.50 and intraday low of 52.50. The net turnover during the day was Rs. 2010831.00.

Source : Equity Bulls

Keywords

SPELSEMICONDUCTOR INE252A01019 LandSale ShareholdersApproval