Alok Industries expects to finalise the sale of its two properties within one year to 18 months and is eyeing Rs1,500-1,600 crore from the deals. The properties include around 7 lakh square feet of commercial space at
The company may use Rs 900 crore from the sale proceeds to retire debt raised for buying the commercial space. The remaining Rs 600 crore would be available for investment in the company’s textile business. It will either use the Rs 600 crore to retire debt in the textile segment or for expansion plans.
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