Milkfood Ltd Sells Moradabad Land for Rs 130 Crore to Restructure Debt

Milkfood Ltd is selling land at its Moradabad plant to Bareilly Dairies Ltd for Rs 130 crore to reduce debt and restructure operations. The proceeds will mainly be used to repay borrowings and cover operational expenses. The company plans to expand into higher-margin dairy products.

Milkfood Ltd plans to sell its Moradabad plant land to Bareilly Dairies Ltd for Rs 130 crore, aiming to alleviate debt and reorganize its operations, the company announced on Saturday.

The deal, finalized on January 16, is projected to conclude by March 31, contingent on the fulfillment of agreed terms and conditions.

The transaction is part of a larger strategic plan to streamline operations and clear lender dues, as articulated by Managing Director Sudhir Avasthi.

(With inputs from agencies.)