Elegant Floriculture Signs Rs 18 Crore Land Sale MOU with Deep Diamond India

Elegant Floriculture & Agrotech (India) Limited (BSE Scrip Code: 526473, CIN: L01110PN1993PLC217724) entered into a Memorandum of Understanding (MOU) with Deep Diamond India Limited for the proposed sale of agricultural land owned by the company.

The transaction is valued at Rs. 18,00,00,000 (Rupees Eighteen Crore Only), with completion expected within 6 months upon fulfillment of conditions precedent and receipt of balance consideration. The parties intend to execute and register the Sale Deed thereafter.

Deep Diamond India Limited is not a related party, and the transaction is being conducted on an arm's length basis. As this involves asset sale rather than a business unit or division, turnover or revenue contribution details from the last financial year are not applicable.

Shares of ELEGANT FLORICULTURE & AGROTECH (INDIA) LTD. was last trading in BSE at Rs. 4.94 as compared to the previous close of Rs. 4.91. The total number of shares traded during the day was 29386 in over 122 trades.

The stock hit an intraday high of Rs. 5.05 and intraday low of 4.72. The net turnover during the day was Rs. 144753.00.

Source : Equity Bulls

Keywords

ELEGANTFLORICULTUREandAGROTECHINDIA INE152E01013 LandSale MOU DeepDiamondIndia