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GlaxoSmithKline Pharmaceuticals which is the India unit of British drug giant GSK has said that it plans to close the sale of its 60 acre land parcel in Thane, Maharashtra by the end of December.
According to the company, it has got 5-6 bids from prospective buyers and the property committee set up by the board has been evaluating the bids.
Deepak Parekh, chairman of GlaxoSmithKline has said at the company’s annual general meeting that “We are trying to extract the maximum value.”
He said that “It’s an industrial land so there is a fair amount of payment to be made for conversion from industrial to residential.”
