Tata Steel sells Mumbai land for Rs. 1,155 crore to Oberoi Realty.

Steel major Tata Steel Ltd. recently sold its 25-acre Borivali land parcel in Mumbai for Rs. 1,155 crore to Oberoi Realty Ltd. through e-auction. "The Committee of Independent Directors appointed for the oversight and governance of the sale process by the Tata Steel board recently declared Oberoi Realty Ltd. as the highest bidder of the auction on the basis of their final bid of Rs. 1,155 crore, after several rounds of bidding," the steel giant said in a statement. Tata Steel had launched the bid-cum-auction process for sale of the land parcel on 18 December last year through public advertisements.