Industrial Investment Trust has received the board’s approval for the sale of investment in Equity and Preference Shares of the Associate Company, World Resorts to Nimbus (India), one of the Shareholders of World Resorts for an aggregate sale consideration of Rs 65.52 crore. Industrial Investment Trust and Nimbus (India) both are the existing Shareholders of World Resorts and both companies belong to the same Promoter Group.
Industrial Investment Trust is an investment company with a long-term view of its portfolio. The investment portfolio is well diversified and it also trades in futures and options.