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Transindia Real Estate Limited’s shares were up by 6.66 per cent after the company entered into an agreement to sell its logistics park located in Jhajjar, Haryana, at an enterprise value of approximately ₹636.71 crore.
Additionally, the company divested its 10 per cent stake in Malur Logistics and Industrial Parks Private Limited, Venkatapura Logistics and Industrial Parks Private Limited, Kalina Warehousing Private Limited, Panvel Warehousing Private Limited, and Allcargo Logistics and Industrial Park Private Limited, securing an equity consideration of near ₹4.55 crore.
The divestment transactions are expected to yield over ₹433.37 crore in cash proceeds for TREL.
Also read: United Breweries unveils London Pilsner beer in Karnataka, shares up
Shashi Kiran Shetty, Founder and Chairman of Allcargo Group, said, “The logistic industry is poised for transformative growth, driven by the government’s emphasis on logistics infrastructure development. This milestone underscores our dedication to quality and innovation, solidifying our position as industry leaders.”
The company further reported, currently, TREL is focused on constructing Grade A warehousing space in Malur, Karnataka, while exploring opportunities in Tamil Nadu and Uttar Pradesh.
The shares advanced 6.44 per cent to close at ₹65.35 on the NSE.
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