Onida Plans to Monetize Realty Assets for Revival
Representative AI image KOLKATA: Onida Electronics, known for its once-iconic television brand, is planning to monetize its real estate assets to generate funds, with some proceeds intended for revitalizing the brand as it competes against well-funded rivals like LG, Samsung, Haier, and Hisense in the highly competitive Indian consumer electronics market. Gunjan Srivastava, the newly appointed managing director and CEO, stated that the company is considering monetizing three land parcels: its 2,143 sq m headquarters, Onida House, in Mumbai’s Andheri; a 60-acre manufacturing facility at Wada, which is being closed; and a five-acre site at Lote in Ratnagiri. The assets…