Greaves Cotton has sold its land located in Pune to Runal Developers LLP for a total consideration of Rs 284 crore and the transaction stands closed on November 3, 2023.
Earlier, the company informed regarding the proposal for sale of Company’s land located at Akurdi Village, Old Mumbai Pune Highway, Pune, Maharashtra (Land) to Runal Developers LLP (Purchaser which includes its affiliates, nominees and permitted assigns), subject to obtaining the necessary regulatory approvals and finalization of definitive documents.
Pursuant to the execution of definitive agreements, the Company has conveyed the Land in favour of the Purchaser.
Greaves Cotton commonly known as Greaves is one of the leading and diversified engineering companies in India with a rich legacy and brand trust of over 160 years impacting a million lives every day.