Home / Knowledge / News / Textiles / India bulls acquires NTC plot for Rs 15.05 bn
India bulls acquires NTC plot for Rs 15.05 bn
10
Aug '10
Realty firm India bulls Intrastate, quoted the highest price of Rs 15.05 billion, and has succeeded all others in acquiring the National Textile Corporation's (NTC) 8.3 acres plot of Bharat Textile Mills at Worli in Mumbai. The price paid for this acquisition is even higher than double the price of Rs 7.5 billion, the reserve price fixed by NTC for e-auction.

This is for the second time that India bulls acquires NTC land, as earlier it had even won the bid for other properties of NTC, such as the Poddar Mill plot at Worli measuring 2.3 acres for Rs 4.74 billion as against the reserve price of Rs 2.75 billion.

NTC Chairman, K Ramachandran Pillai, said that, India bulls has won the online bid for Bharat Mills and it has beaten Lodha Group who had offered a price of Rs 15.03 billion for acquisition.

NTC is intending to increase its capital of about Rs 80 billion, during the current fiscal, via sales of its plots, which in all measure around 55 acres and are mainly located in Mumbai.

The next plot to go up for sale in Mumbai, by NTC, will take place in September. Till then and within the next 10 days, NTC is likely to auction two of its plots in Bangalore and Indore, measuring 1.73 acre and 16 acres, respectively.

Fibre2Fashion News Desk - India


Must ReadView All

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Apparel/Garments | On 15th Dec 2017

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Strategic location, modern factory facilities and proximity to the...

American Merchant to invest $19.9 mn to start Bristol plant

Textiles | On 15th Dec 2017

American Merchant to invest $19.9 mn to start Bristol plant

American Merchant, Inc., a subsidiary of Merchant House International ...

Courtesy: Tailored Brands

Apparel/Garments | On 15th Dec 2017

Tailored Brands posts $810.8 million sales in Q3 FY17

Tailored Brands, a leading US-based specialty retailer of menswear,...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search