Deepak Nitrite Ltd has informed BSE that the Board of Directors of the company on June 23, 2014, approved the sale of parcel of land admeasuring 12,141 sq m in Pune (Maharashtra), subject to receipt of all requisite approvals and permissions, based on the valuation report of renowned independent professional firm.
The proposal to sell the said land is with a view to monetise the value of its unutilised assets and improve shareholders value by freeing up capital to facilitate growth.
Deepak Nitrite had shifted its headquarter from Pune to Vadodara a few years as majority of the company’s manufacturing activity was moved to Gujarat with investments in new plants.
The proposal to sell the said land is with a view to monetise the value of its unutilised assets and improve shareholders value by freeing up capital to facilitate growth.
Deepak Nitrite had shifted its headquarter from Pune to Vadodara a few years as majority of the company’s manufacturing activity was moved to Gujarat with investments in new plants.