Joint Venture12 Jun 2025, 02:57 pm
Birla Precision Technologies Ltd Executes MoU for Sale of Foundry Land, Structure, and Scrap Material
AI Summary
Birla Precision Technologies Limited has executed two Memorandum of Understanding (MoU’s) with M/s. Swastik Developers for the sale of land, structure, and scrap material pertaining to the Foundry Division located at Aurangabad. The total consideration for the land is ₹ 27,31,00,000 and for the scrap material is ₹ 2,75,00,000. This is part of the Company’s strategic decision to monetize non-core assets post closure of the Foundry operations.
Key Highlights
- Birla Precision Technologies Ltd has executed MoU’s with M/s. Swastik Developers for the sale of land, structure, and scrap material of the Foundry Division.
- The total consideration for the land is ₹ 27,31,00,000 and for the scrap material is ₹ 2,75,00,000.
- This is part of the Company’s strategic decision to monetize non-core assets post closure of the Foundry operations.
- The Foundry Division has been non-functional since February 2023.
- The transactions are expected to be completed upon execution of definitive agreements and progress of the transaction.