NTC to e-auction mill lands in Indore and Bangalore
18 Oct 2010
National Textiles Corporation (NTC) will sell two more properties - one in Indore and another in Bangalore - in fresh rounds of online auctions this month and the next.
NTC will sell the surplus 16.57 acres of land belonging to Malwa United Mills in Indore between 25 and 27 of October. NTC has kept the reserve price for the block at Rs60 crore.
"From the surplus land of Malwa United Mills in Indore, the NTC will put on the block 16.57 acres with a reserve price of Rs60 crore from October 25 to 27. The tenders to shortlist the participants in the three-day auction will be opened on October 18," NTC said in a statement.
Online auction for the 1.703 acres of land with Minerva Mills in Bangalore will be held between 15 and 17 of November.
NTC has kept the reserve price for the Minerva Mills property in Bangalore at Rs50 crore. It has already invited tenders from interested parties for the e-auction.
NTC has raised around Rs2,200 crore from online auction of two properties in Mumbai.