The Indian Hume Pipe Co. Ltd. completes sale of land in North Bengaluru

The Indian Hume Pipe Co. Ltd. (IHP) has completed the sale of its ~10 acre freehold land, located in North Bengaluru, to Godrej SSPDL Green Acres LLP (Subsidiary of Godrej Properties Ltd) for a total consideration of INR 559 Crores.

Rajas Doshi, Chairman & Managing Director, IHP: "The sale of our ten acre land in north Bangalore marks a significant milestone for the Company and was timed perfectly amidst a favourable real estate market. Our deal with Godrej Properties, which is one of the largest and most trusted real estate brands in the country, was concluded after conducting a bidding process."

Anarock Property Consultants acted as transaction advisors. DSK legal acted as legal advisors.

Shares of Indian Hume Pipe Company Limited was last trading in BSE at Rs. 377.15 as compared to the previous close of Rs. 347.85. The total number of shares traded during the day was 19463 in over 1003 trades.

The stock hit an intraday high of Rs. 388.00 and intraday low of 347.85. The net turnover during the day was Rs. 7243803.00.

Source : Equity Bulls

Keywords

IndianHumePipeCompany INE323C01030 LandSale NorthBengaluru GodrejSSPDLGreenAcresLLP