Kansai Nerolac Paints Ltd to Sell 96,180 Sq Mt at Kavesar, Thane

The Board of Directors of Kansai Nerolac Paints have approved a proposal for sale of land measuring 96,180 sq mts at Kavesar, Thane to Shoden Developers a group of company of House of Hiranandani for total consideration of Rs 655 crore, the company said.

The Board of Directors has approved a proposal for monetisation of idle land parcel of the Company and being put for productive use it said in the regulatory filing. The company has entered into an agreement to sell with Shoden Developers. The sale is subject to completion of procedures and approvals as may be necessary in this regard.