Izmo Ltd to sell land and building at Bangalore

The Board of Directors of Izmo Limited ('the Company') at its duly held meeting today i.e., December 06, 2023 which commenced at 1:00 P.M. (IST) and concluded at 2:00 P.M (IST) has approved in principle, a proposal to incorporate a Wholly Owned Subsidiary (WOS) Company with the name "Izmo Microsystems Private Limited" or such other name made available by the Central Registration Centre (CRC)-Delhi, India inter-alia to cater to the needs of new technology in rapidly growing market for Electric Vehicles and other automotive needs.

The board also approved sale of Land and Building in the name of the Company, having clear and marketable titles including land admeasuring approximately 3900 Sq.mtrs and building of about 21,000 Sq.ft (hereinafter referred to as "Immovable Property") along with the structures standing thereon located at 84, Deep Towers, EPIP Industrial Area, Whitefield, Bangalore-560066, Karnataka India, subject to necessary due diligence, approvals, consents, permissions from the concerned authorities, if any to one or more parties in part, piecemeal or in full.

Shares of IZMO Limited was last trading in BSE at Rs. 266.10 as compared to the previous close of Rs. 266.30. The total number of shares traded during the day was 2928 in over 17 trades.

The stock hit an intraday high of Rs. 268.00 and intraday low of 266.00. The net turnover during the day was Rs. 780293.00.

Source : Equity Bulls

Keywords

IZMO INE848A01014 SubsidiaryFormation PropertySale