Hindalco Strikes Deal with Birla Estates' Subsidiary to Sell Maharashtra Land Parcel
Hindalco Industries has agreed to sell a land parcel in Maharashtra to Ekamaya Properties Pvt Ltd, a subsidiary of Birla Estates Pvt Ltd, for Rs 595 crore.
HindalcoBirla EstatesEkamaya PropertiesMaharashtraLand SaleReal Estate MaharashtraJul 15, 2024
Previously, on July 12, 2023, Hindalco Industries had announced that its Board of Directors had approved a proposal to sell the land parcel to Birla Estates Private Ltd. However, the transaction will now be entered into with Ekamaya Properties Pvt Ltd, a subsidiary of Birla Estates Pvt Ltd.
Hindalco Industries is a leading player in the aluminium industry, operating across the value chain from bauxite mining, alumina refining, coal mining, captive power plants, and aluminium smelting to downstream rolling, extrusions, and foils. The company, along with its subsidiary Novelis, is the global leader in flat-rolled products and the world's largest recycler of aluminium.
Information
Birla Estates Pvt Ltd is a real estate company that focuses on developing residential and commercial properties. Ekamaya Properties Pvt Ltd is a wholly-owned subsidiary of Birla Estates Pvt Ltd.
Hindalco Industries is an Indian multinational conglomerate headquartered in Mumbai. The company is one of the largest aluminium producers in Asia and a major player in the global aluminium industry.
Frequently Asked Questions
What is the value of the land parcel sale between Hindalco Industries and Ekamaya Properties Pvt Ltd?
The deal is worth Rs 595 crore.
Where is the land parcel located?
The land parcel is situated in Kalwa, Maharashtra.
Who is the buyer of the land parcel?
Ekamaya Properties Pvt Ltd, a subsidiary of Birla Estates Pvt Ltd, is the buyer of the land parcel.
What is the condition for the transaction to be completed?
The transaction is subject to the signing of definitive documents, completion of customary closing conditions, and receipt of regulatory approvals.
What is Hindalco Industries' business focus?
Hindalco Industries operates across the value chain from bauxite mining, alumina refining, coal mining, captive power plants, and aluminium smelting to downstream rolling, extrusions, and foils.
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