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Mafatlal Industries get shareholders nod for land sale

17 Jun 2011 Evaluate

Mafatlal Industries, engaged in manufacture of textiles and textile chemicals has received its shareholders approval for the proposal to sell its 30,910 sq meters land at Mazgaon in Mumbai to Gliders Buildcon LLP for Rs 605 crore by the way of postal ballot.

In case transaction with Gliders Buildcon LLP fails to materialize then it can sell it to other parties for not less than Rs 600 crore. Earlier in May this year, the company's board accepted Gliders Buildcon LLP's offer for the development of leasehold land ad measuring around 30,910 sq meters.

Mafatlal Industries produces some of the finest fabrics, in a count range of 12's to 105's, which are exported to the most demanding buyers of Europe, UK, USA and Middle East.MIL produces a complete range of products in 100% cotton and in polyester/ cotton blends, consisting of yarn dyed and piece dyed shirtings, poplins, bottomwear fabrics, cambrics, fine lawns and voiles. In addition to these, the mills also have the capacity to produce printed voiles and dress materials.

Mafatlal Inds Share Price

132.40 -0.40 (-0.30%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Welspun Living 125.45
Vardhman Textiles 557.75
Arvind 387.20
K.P.R. Mill 926.40
Page Industries 37935.70
View more..

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