Binny to diversify into realty.

Binny Ltd. has decided to diversify into real estate development, commodity trading and power, according to an announcement on the BSE. The company board has also given in-principle approval to acquire a 37 MW wind farm from Mohan Breweries and Distilleries, which has made an offer price of Rs.120 crore. Binny will make an advance payment up to 25 per cent of the offer price and will finalise details of the transaction. It will seek statutory clearances before proceeding with the deal. Mohan Breweries will refund the advance if the deal does not go through, the company said in the announcement.

HBL