Tech Mahindra sells 103 acres of land, 17 buildings to Mahindra University for Rs 535 crore.
Tech Mahindra shares reached a 52-week high after approving the sale of 103 acres of land and 17 buildings to Mahindra University for approximately Rs 535 crore. The cash consideration will be received in tranches over four years with an 8.20% interest rate per annum. The university, established in 2018, will utilize the land and buildings for its operations. This transaction is designed to facilitate the university's growth as an autonomous institution.
August 20, 2024
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