Hindalco Industries has announced the sale of a land parcel in Kalwa, Maharashtra, to Ekamaya Properties Pvt Ltd, a wholly-owned subsidiary of Birla Estates Pvt Ltd, for Rs 595 crore. The decision was initially approved by the Board of Directors on July 12, 2023, for sale to Birla Estates Private Ltd, but the transaction will now proceed with Ekamaya Properties.
Key Details:
- Transaction Value: Rs 595 crore.
- Location: Kalwa, Maharashtra.
- Buyer: Ekamaya Properties Pvt Ltd, a subsidiary of Birla Estates Pvt Ltd.
- Conditions: Subject to signing definitive documents, completion of customary closing conditions, and receipt of regulatory approvals.
Company Background:
- Hindalco Industries: Operates across the value chain, including bauxite mining, alumina refining, coal mining, captive power plants, aluminium smelting, and downstream rolling, extrusions, and foils.
- Global Leadership: Along with its subsidiary Novelis, Hindalco is a global leader in flat-rolled products and the world's largest recycler of aluminium.
The sale is a strategic move by Hindalco Industries and is expected to proceed once all regulatory and procedural conditions are met.