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Standard Industries to transfer its leasehold rights in 62.25 acres land in Thane

02 Sep 2016 Evaluate

Standard Industries has entered into a Memorandum of Understanding (MoU) on September 01, 2016, with Feat Properties to transfer and assign all its leasehold rights in 62.25 acres of the company’s leasehold property situated at Plot No.4 at Trans-Thane Creek Industrial Area in the villages of Ghansoli and Savali, Taluka Thane, for a consideration of Rs 355.00 crore.

This transfer, assignment and consideration is subject to various conditions precedent getting satisfied (including approval of MIDC) and other terms and conditions specified in the aforesaid Memorandum of Understanding.

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 mens and womens 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.


Standard Inds Share Price

15.70 -0.68 (-4.15%)
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