Jeena Sikho Lifecare Sells ₹24 Crore Land Parcel to Tresco Realty

HEALTHCAREBIOTECH
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AuthorKavya Nair|Published at:
Jeena Sikho Lifecare Sells ₹24 Crore Land Parcel to Tresco Realty
Overview

Jeena Sikho Lifecare Ltd has approved the sale of approximately 48 Bigha of non-operational land located on the Chandigarh-Bathinda Highway for ₹24 crore to Tresco Realty Group LLP. The company has confirmed this transaction will not impact its business operations. The sale aims to optimize asset utilization and generate cash without affecting core healthcare activities.

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Jeena Sikho Lifecare Sells Land for ₹24 Crore

Jeena Sikho Lifecare Ltd has approved the sale of approximately 48 Bigha of non-operational land situated on the Chandigarh-Bathinda Highway. The sale is for ₹24 crore and the buyer is Tresco Realty Group LLP.

The company stated that this transaction will not affect its core business operations. The sale represents a strategic move to optimize asset utilization and generate cash by divesting a non-core asset. This monetization aims to free up capital and allow management to focus on its healthcare sector activities.

The deal is subject to certain conditions being met, including property partition and payment obligations. Failure to fulfill these conditions could lead to delays or cancellation of the sale.

Investors will be tracking the confirmation of the transaction's completion and the subsequent use of the ₹24 crore proceeds.

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