Clariant Chemicals (India), an India-based specialty chemicals manufacturing company, announced that in accordance with the approval of shareholders, the company has entered into an agreement to sell its land located in Kolshet, Thane aggregating to about 87 acres to Ishwer Realty and Technologies (a subsidiary of Lodha Developers) for an aggregate consideration of Rs 11.54 billion.

The transaction is subject to customary closing conditions and is subject to relevant approvals and permissions from the Government and other statutory bodies, as may be necessary.

Shares of the company gained Rs 37.95, or 5.75%, to trade at Rs 698. The total volume of shares traded was 110,112 at the BSE (12.17 p.m., Tuesday).