Transindia Real Estate has signed a definitive agreement to sell its logistics park at Jhajjar in Haryana at an enterprise value of approximately ₹636.71 crore.
The deal consummation will help Transindia realise substantial value from this divestment and continue to have zero debt.
Additionally, Transindia has also divested its 10% stake held in Malur Logistics & Industrial Parks Private Ltd, Venkatapura Logistics & Industrial Parks Private Ltd, Kalina Warehousing Private Ltd., Panvel Warehousing Private Ltd., and Allcargo Logistics & Industrial Park Private Ltd., for an equity consideration of nearly ₹4.55 crore.
“As a result of this divestment, Transindia will receive over ₹433.37 crore as cash proceeds,” the company said in a statement.
The company said it would deploy the capital to fuel its growth plans and expand its operations in various locations. The deal would also boost the company’s financial capabilities, paving the way for fresh investments in emerging business growth opportunities, it added.
Jatin Chokshi, Managing Director of Transindia Real Estate, said, “Our infrastructure development initiatives are in line with our vision to develop assets that create value and are customised to meet international standards and specific business requirements.”
