HFCL land bidding on 5th November
The two potential bidders, Government of Singapore Investment Corporation (GIC) and private investor Red Fort Capital are to acquire the real estate assets of Hindustan Teleprinters (HTL), where Himachal Futuristic Communication (HFCL) holds 74% stake.
After HTL was deemed as non performing assest, SBI took possession of 10.16 acre company land, in Chennai. The final bidding for the land will be on 05 November and Jones Lang Lasalle (JLL) has to find buyer for the land.
Five years ago, HTL ‘s property was attempted to sell to AIG Real Estate and RMZ Corp. But the deal was objected by the government, stating end-use of the land is not allowed as it belonged to the public sector once.
AIG Real Estate, Government of Singapore Investment Corporation, Himachal Futuristic Communication, Hindustan Teleprinters, land bidding, Real estate in India, Realty News, Red Fort Capital, State Bank of India
