Autoline Industries and Autoline Design Software (ADSL) have entered into a definitive agreement viz. Share Purchase Agreement (SPA) on August 8, 2023 with MNSC Realty & Developers for selling their entire stakes of 44.78% held in Autoline Industrial Parks (AIPL). Earlier, the company had entered into Memorandum of Understanding (MOU) with MNSC Realty & Developers.
The consideration is spread over the next two years. The sale of stake is expected to be completed by June 30, 2025.
Autoline Industries is engaged in manufacturing of various auto parts/sheet metal components for passenger cars, sports utility vehicles (SUV), commercial vehicles, two-wheelers, three-wheelers, tractors, etc.