💡 Company completed sale of 16.84 acres of excess land for Rs. 133.85 crore, boosting cash reserves.
What Happened
Everest Industries Limited has completed the Phase I sale of its vacant, excess land at Podanur, Coimbatore. The company executed a Sale Deed with G Square Properties Private Limited on April 10, 2026, transferring 16.84 acres of land. The total consideration for the transaction is Rs. 133,85,68,000, with Rs. 100.83 crore already received by the company.
Key Details
- Company: Everest Industries Limited
- Event Type: M&A
- Filing Date: 12-Apr-2026 12:23:40
- NSE Filing: View Document
Why It Matters
The sale of non-core, excess land represents a strategic monetization of assets, providing a significant cash inflow of over Rs. 133 crore to Everest Industries. This capital can be utilized to strengthen the company's balance sheet, reduce debt, or fund future growth initiatives. The transaction is not a related party deal and was conducted at arm's length with an unrelated buyer, G Square Properties. The completion of this sale marks a key milestone in the company's asset optimization strategy.
Disclaimer: This is publicly available information sourced from NSE. Not investment advice.
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