VST Industries Sells Hyderabad Property to ViNS Bioproducts

25 Nov 2024 , 09:19 AM

VST Industries Ltd has concluded the sale of a property located in Panjagutta, Banjara Hills, Hyderabad to ViNS Bioproducts Ltd and others on November 22, 2024. The total value for the transaction is at ₹101.7 crore that includes around 2.7 acres of land with existing structures.

The plots were sold and registered through their sale deeds. The plots are situated at Plot Nos. 7, 8, 9, and 15 located in Panjagutta, Banjara Hills, Hyderabad. It involves a direct sale and purchase agreement between VST Industries and the third-party buyers and does not have any involvement of the company’s promoter group.

No promoter, director, key managerial persons or any of their relatives has any direct or indirect interest in the transaction. The Sale Deed confirms the absolute transfer of title to the property absolutely as free from any special rights or restrictions. Radhakishan Damani, the biggest shareholder in VST Industries as of June 30, 2024 owns 3.47% of the company.

Damani sold a 2.26% stake in the company through block deals before the results announcement and the bonus share issue VST Industries produces cigarettes and tobacco through two units in Hyderabad and direct distribution to more than 1.2 million outlets. Top brands by the company are Total, Charms, Moment, Special, and Edition.