Bombay Dyeing mulls foray into warehousing, holiday homes financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
In one of the biggest realty deals, the Bombay Dyeing and Manufacturing Co. Ltd. (BDMC) said it has approved a proposal to sell off its prime property in Worli, measuring around 22 acres, to Goisu Realty Pvt. Ltd in two phases for around Rs 5,200-crore, to pay off debts and fund future projects, here on Wednesday.
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.
In one of the biggest realty deals, the Bombay Dyeing and Manufacturing Co. Ltd. (BDMC) said it has approved a proposal to sell off its prime property in Worli, measuring around 22 acres, to Goisu Realty Pvt. Ltd in two phases for around Rs 5,200-crore, to pay off debts and fund future projects, here on Wednesday.
Bombay Dyeing shares rise 20% on land deal; debt reduction plans financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.