Man Industries’ (India) wholly owned subsidiary -- Merino Shelters has entered into a Deed of Assignment along with granting of development rights for its land parcel of approximately 6 acres opposite to D.Y. Patil Stadium, Navi Mumbai with Paradise Green - Spaces LLP, a part of Paradise Group.
In view of the above, the company will receive an upfront amount of Rs 70 crore. Additionally, the company will get 30% area of developed property. The company will receive area equivalent to approximately 4,50,000 square feet Rera carpet area (Commercial and Residential) which has a monetising value of approximately Rs 650 to Rs 700 crore over a period of 5 to 6 years. The total monetising value would be approximately Rs 720 to Rs 770 crore.
Man Industries (India) is engaged in the business of manufacturing, processing and trading of submerged arc welded pipes & steel products.
| Company Name | CMP |
|---|---|
| Tata Steel | 212.05 |
| JSW Steel | 1239.90 |
| SAIL | 173.50 |
| Jindal Stainless | 787.90 |
| APL Apollo Tubes | 2105.45 |
| View more.. | |
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