Mukand to sell land to cut debt

Mukand Ltd, a Bajaj group company, plans to sell-off its assets, including land to pay off debt. The speciality steelmaker for the auto sector has a debt of Rs 1,500 crore. Rajesh Shah, co-chairman and managing director, Mukand told DNA Money, "We can raise fairly large money in a matter of 15 months by the sale of land. We aim to raise Rs 700 crore via land sale and reduce our debt considerably." The company holds land near Pune and Nashik in (82 acres), Kalva (210 acres) and in Hospet in Karnataka (250 acres).



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