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.
| Company Name | CMP |
|---|---|
| Welspun Living | 125.45 |
| Vardhman Textiles | 557.75 |
| Arvind | 387.20 |
| K.P.R. Mill | 926.40 |
| Page Industries | 37935.70 |
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