Home / Knowledge / News / Textiles / India bulls acquires NTC plot for Rs 15.05 bn
India bulls acquires NTC plot for Rs 15.05 bn
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

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Ritu Kumar
Label Ritu Kumar

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

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
June 2017

June 2017

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


Browse Our Archives


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