Autoline will be selling its 100 acre land situated on the outskirts of Pune and the deal value is likely to go up to Rs 250 crore. Autoline being a midcap company, receives an amount of Rs 250 crore then the valuation per share would work out to Rs 200, which is good, reports CNBC-TV18’s Kritika Saxena.
Also read: Buy Setco Automotive; target of Rs 164: SPA Research With the due diligence still going on, it is likely that the deal value may stand at around Rs 225-235 crore. Rakesh Jhunjhunwala holds 10% stake in this company. If the deal does go through, then one could see some amount of dividend coming in as well. Tata Housing is a front runner for this sale and there have been multiple players who have been looking at this deal as well. The deadline set by the company is March end, but the deal is still at advance stages and there could be more developments in January and February as well. Autoline has confirmed that the company is in talks with multiple players, but it declined to comment on any market speculation surrounding this deal.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
