Maruti signs pact with RPG Life Sciences to acquire land
New Delhi: Country's largest car maker Maruti Suzuki India on Wednesday said it has signed an agreement with RPG Life Sciences to acquire a land parcel in Mumbai for an undisclosed amount to set up its regional office.
In a filing to the BSE, Maruti Suzuki India (MSI) said it "had entered into a memorandum of understanding (MoU) with RPG Life Sciences in August 2012" for acquiring the land.
The land parcel of 14,148.90 sq metre out of total land of 48,632 sq metre is situated at Trans-Thane Creek Industrial Area in Navi Mumbai, it added.
The company, however, did not share financial details of the deal.
"MSI is seeking to acquire this land for setting up 'Regional Office' facilities in the Mumbai region in due course," the filing said.
The National Capital-based auto major further said the MoU is subject to conclusion on fulfilment of terms and conditions mentioned therein.
Shares of MSI on Wednesday closed 0.39 percent higher at Rs 1,413.30 apiece on the BSE.
More from India
More from World
More from Sports
More from Entertaiment
- 7th Pay Commission recommends 23.55% hike in salary for central govt employees; minimum salary set at Rs 18,000 per month
- Shocking fact of pay 'hike' in 7th Pay Commission recommendations!
- Full Report of 7th Pay Commission
- Unbelievable! Clean and healthy meals on Indian Railways at just Rs 20
- E-commerce war: Paytm Diwali sale offers 100% cashback on 25 million products