Gagan Gases Ltd. said that it has signed a memorandum of understanding (MoU) to sell its surplus land and building in Pithampur in the Dhar district of Madhya Pradesh for INR 2.35 crores to an undisclosed buyer.

The Indore-based gas company said that the plot area measures 10,000sqm and is located at Plot no. 602, Sector 3.

Gagan Gases revealed that it received INR 11 lakhs as an initial advance.

According to Gagan Gases, the buyer is a third party buyer who is not part of the promoter/promoter group companies and the deal does not come under the ambit of related party transactions.

  Dhar, Gagan Gases, India, Madhya Pradesh, Pithampur