Tata Steel has completed the e-auction process for the sale of its Mumbai land with the participation of several well-known developers. The company had launched the bid-cum-auction process for the sale of its land parcel in Borivali on December 18, 2013 by public advertisements in national dailies. The site measuring roughly 25 acres is located at the junction of Western Express Highway and Dattapada road in Borivali (E), Mumbai and is abutting both these roads. The neighborhood predominantly comprises medium to high-end residential developments.
The Committee of Independent Directors appointed for the oversight and governance of the sale process by the Tata Steel Board declared Oberoi Realty as the highest bidder of the auction on the basis of their final bid of Rs 1,155 crore, after several rounds of bidding. As per the laid down process, the sale will be concluded after all requisite permissions are obtained.
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.
| Company Name | CMP |
|---|---|
| Tata Steel | 212.05 |
| JSW Steel | 1262.45 |
| SAIL | 180.60 |
| Jindal Stainless | 741.55 |
| APL Apollo Tubes | 1950.55 |
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