Arkade Developers enters into an MoU to acquire 100% shareholding in Woollen and Textile Industries Ltd, Bhandup W

Listed entity, Arkade Developers Limited, has entered into an MoU to acquire 100% shareholding in Woollen and Textile Industries Ltd, thereby marking its second acquisition in Bhandup West.

The proposed acquisition includes a land parcel admeasuring 14,363.60 sq. mtrs. located in Bhandup (West). The total consideration for the deal is ₹148 crore.

Speaking on the proposed acquisition, Mr. Amit Jain, CMD of Arkade Developers, said: "This proposed acquisition underlines Arkade Developers' vision of creating value-driven developments at strategic locations. With our legacy of trust, timely delivery, and quality construction, we look forward to unlocking the potential of this land parcel and contributing meaningfully to urban transformation."

Arkade Developers continues to strengthen its footprint across MMR's central corridor with landmark developments like Arkade Earth in Kanjurmarg (4 acres), Arkade Nest in Mulund (2 acres), and Arkade Rare in Bhandup (3 acres) and also recently announced the strategic entry into the Thane market with a 6.28-acre land acquisition. Staying committed to its 'Family-First' philosophy, the brand remains dedicated to crafting thoughtful, future-ready communities that elevate the region's skyline while nurturing wholesome living.

Shares of Arkade Developers Limited was last trading in BSE at Rs. 182.05 as compared to the previous close of Rs. 175.95. The total number of shares traded during the day was 87540 in over 1075 trades.

The stock hit an intraday high of Rs. 185.00 and intraday low of 175.50. The net turnover during the day was Rs. 15763727.00.

Source : Equity Bulls

Keywords

ArkadeDevelopers INE0QRL01017 Residential Commercial Acquisition MoU WoollenandTextileIndustries BhandupWest