Bombay Dyeing shares surge 20% due to a landmark decision.

Stocks reach 1-year high at Rs 168.50 during early trading.

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Board approves sale of 22-acre land in Worli, Mumbai.

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Deal surpasses company's total market capitalization.

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Proceeds to alleviate a debt burden of Rs 3,969 crore.

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Rs. 4,675 crore for Phase-I; Rs. 525 crore for Phase-II

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EGM to be convened for shareholder approval.

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Phase-I deal expected by end of September.

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Second phase slated for completion in late 2023 or early 2024.

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National Peroxide and Bombay Burmah Trading Corp. also gain.

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