ET reported that specialty steel maker Mukand, jointly controlled by the Bajaj and Shah families, is close to selling a part of its land at Kalwa near Thane for about INR 600 crore.

The company owns over 60 acres of land at the rolling facility at Kalwa and intends to use the proceeds to reduce its debt. Mr Niraj Bajaj chairman of Mukand said that “Our long term debt is at INR 1,200 crore which we would like to bring down to about INR 700 crore.”

(Sourced from ET)