Kirloskar Electric Company inks agreement to sell non-core asset

Kirloskar Electric Company has signed an agreement with Brigade Enterprises for sale of non-core asset of the company situated at Subramanyanagar, Industrial Suburb, Rajajinagar, Bangalore admeasuring 1.065 Acres (46,391 sq.ft.). The Consideration for the proposed sale will be Rs 55 crore.

The expected date of completion of the agreement will be on or before March 31, 2019 subject to receipt of relevant approvals.

Kirloskar Electric Company (KEC) is one of the India’s leading manufacturers of electrical and power equipment. The company was established in 1946 by Ravi L Kirloskar.