Baazar Style Retail Limited has announced that it has signed a term sheet to acquire a commercial space located at PS Srijan Tech Park, Sector V, Salt Lake, West Bengal. The space measures approximately 44,250 square feet, and the total cost for the acquisition is Rs. 32.5 crore.
As part of the agreement, the company has already made an advance payment of Rs. 1 crore towards the total consideration. The final agreement will be completed in due course.
This acquisition is seen as part of Baazar Style Retail’s strategic expansion plans.
For now, the company has submitted the necessary information to the stock exchanges for official records.