Standard Industries on June 17, 2011 has entered into a term sheet with Peninsula Mega City Development for development of approximately 62.25 acres of the company's Leasehold land at TTC Industrial area, Thane Belapur road, Ghansoli, Navi Mumbai.
This is pursuant to the authority granted at the board meeting held on June 16, 2011. The material terms as per term sheet agreement is as under - the company will receive an aggregate sum of Rs 130 crore spread over a period of 5 years and 20% constructed IT space/area in the development.
Standard Industries is into the business of textiles apparels and chemicals. The textile and apparel division is engaged in manufacturing cotton, polyester, yarn and other fabrics and men’s and women’s readymade garment clothing. The company’s textile division manufactures and markets caustic soda and potash, chlorine, hydrochloric acid, potassium carbonate, ethyle chloride and other chemicals.
| Company Name | CMP |
|---|---|
| Redington | 222.00 |
| Adani Enterprises | 2499.90 |
| Amrapali Industries | 18.85 |
| Rashi Peripheral | 529.50 |
| PDS | 300.95 |
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