FDC has purchased the immoveable property presently occupied by the company as a Lessee, from the Lessors ‘Ghaswalas’, admeasuring 8,664 square meters located at Swami Vivekananda Road, Jogeshwari, Mumbai in state of Maharashtra for a total consideration of Rs 261 crore.
The board of directors of the company considered this outright purchase of the Ghaswala plot presently occupied on lease since the year 1949 which will finally expire in December 2018, as one of the best options, considering the time and cost factor for shifting the entire operations presently undertaken at Jogeshwari. This transaction is in the best interest of the company with respect to continuity of the entire business operations at the same place.
FDC is an India-based pharmaceutical company engaged in pharmaceutical business. The company manufactures Electral, oral rehydration salt (ORS), being a leader in this segment.
| Company Name | CMP |
|---|---|
| Sun Pharma Inds. | 1675.20 |
| Dr. Reddys Lab | 1235.40 |
| Cipla | 1238.30 |
| Zydus Lifesciences | 942.55 |
| Lupin | 2324.25 |
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