Neepa Real Estate Private Limited has acquired a 18 acre real estate property of Borosil Glass Works Limited for Rs. 830 crore ($178 million) in Mumbai, located at Marol, Andheri (East)..Partner Sudip Mullick quoted, “This was one of the high value real estate transactions of Mumbai. The payment of the entire sale consideration was made by the purchaser in a single tranche against execution of the final transaction documents and delivery of property”..Khaitan & Co. represented Borosil Glass Limited with Senior Partners Pradip Khaitan and Haigreve Khaitan along with Partner Sudip Mullick and Associate Abhishek Sharma..Kanga & Co. advised the buyer Neepa Real Estate with Partners M.L. Bhakta and Dhaval Vussonji..Ambit Corporate Finance acted as the exclusive financial advisor to Borosil on the deal. The Deal Curry reports Borosil Glass will utilise the fund to expand its operations and retire its debt which stands at around Rs. 44 crore ($9.3 million) as on March 2010.
Neepa Real Estate Private Limited has acquired a 18 acre real estate property of Borosil Glass Works Limited for Rs. 830 crore ($178 million) in Mumbai, located at Marol, Andheri (East)..Partner Sudip Mullick quoted, “This was one of the high value real estate transactions of Mumbai. The payment of the entire sale consideration was made by the purchaser in a single tranche against execution of the final transaction documents and delivery of property”..Khaitan & Co. represented Borosil Glass Limited with Senior Partners Pradip Khaitan and Haigreve Khaitan along with Partner Sudip Mullick and Associate Abhishek Sharma..Kanga & Co. advised the buyer Neepa Real Estate with Partners M.L. Bhakta and Dhaval Vussonji..Ambit Corporate Finance acted as the exclusive financial advisor to Borosil on the deal. The Deal Curry reports Borosil Glass will utilise the fund to expand its operations and retire its debt which stands at around Rs. 44 crore ($9.3 million) as on March 2010.