Deals18 Mar 2025, 06:36 pm
Kovai Medical Center & Hospital Ltd Approves Land and Building Purchase from MTL Instruments Private Limited for USD 7 Million
AI Summary
Kovai Medical Center & Hospital Ltd announced that its Board of Directors considered and approved the proposal for purchasing land and building admeasuring 1.11 acres from MTL Instruments Private Limited. The property, located in Sholinganallur Village, Saidapet taluk, Chingelpetu District, has a proposed purchase price of not exceeding INR 60 crores (approximately USD 7 million). The source of funds for this transaction will be internal accruals and bank loans. The company has confirmed that there is no relationship with the counterparty, and the transaction does not fall under related party transactions.
Key Highlights
- Kovai Medical Center & Hospital Ltd approves the purchase of 1.11 acres of land and building from MTL Instruments Private Limited.
- The proposed purchase price is INR 60 crores, approximately equal to USD 7 million.
- The source of funds for this transaction includes internal accruals and bank loans.
- The property is located in Sholinganallur Village, Saidapet taluk, Chingelpetu District.
- There is no relationship between Kovai Medical Center & Hospital Ltd and MTL Instruments Private Limited, and the transaction is not a related party transaction.