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Arshiya sells six warehouses to Ascendas India for Rs 534 crore

Arshiya sells six warehouses to Ascendas India for Rs 534 crore

Saturday, April 15, 2017, 2:16 PM

Arshiya has entered into an agreement to sell six of its warehouses to Ascendas India for Rs 534 crore. The storage spaces spread across 832,000 square feet are located in Panvel, on the outskirts of Mumbai. "The intended objective of Arshiya is to achieve an asset light model going forward, while Ascendas will potentially be getting a portfolio of income yielding Free Trade warehouses.
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