Oberoi Realty Ltd completes acquisition of ~75 acres land in Thane

Oberoi Realty Limited had entered into a Memorandum of Understanding ("MOU") with NRB Bearings Limited ("NRB") for acquiring the lands located at Pokhran Road 2, Thane, Maharashtra, together with structures thereon. The said acquisition was to be completed upon fulfilment of certain terms and conditions of the MOU.

The terms and conditions of the MOU as stated above having been fulfilled, the Company has on December 5, 2023 registered conveyance deed of the said land admeasuring approximately 25,700 square meters (approx. 6.4 acres) (as per title deeds) in its favour and also taken possession of the said property. The total consideration for acquisition of the said property is ~Rs. 196 Crore, which has been paid in its entirety.

With the above, the Company has completed the acquisition and consolidation of contiguous pieces of lands admeasuring ~75 acres situate at Pokhran Road 2, Thane, Maharashtra.

Shares of Oberoi Realty Limited was last trading in BSE at Rs. 1439.15 as compared to the previous close of Rs. 1438.90. The total number of shares traded during the day was 14713 in over 1408 trades.

The stock hit an intraday high of Rs. 1453.00 and intraday low of 1410.35. The net turnover during the day was Rs. 21105677.00.

Source : Equity Bulls

Keywords

OberoiRealty INE093I01010 Acquisition LandParcel Thane