MMRDA is engaged in long-term planning and implementation of strategic projects and financing of infrastructure development in Mumbai Metropolitan Region (MMR). According to property consultants, the Bandra-Kurla Complex continues to be a sought-after business district in Mumbai that could attract a number of large global and domestic entities.
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The deal value is greater than the firm s closing market cap of Rs 2,900 crore on September 13, when the deal was announced. Analysts believe the company may look to reduce debt with the proceeds from the deal, which currently stands at Rs 3,969 crore.