Tata Steel says Oberoi Realty highest bidder for Mumbai land parcel

MUMBAI, March 26 Tue Mar 25, 2014 11:16pm EDT

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MUMBAI, March 26 (Reuters) - India's Tata Steel Ltd said real estate developer Oberoi Realty Ltd has emerged as the highest bidder at the auction of its Mumbai land parcel with a final bid of 11.55 billion rupees ($189.95 million).

The bid-cum-auction process for the nearly 25-acre plot in the western suburbs of India's financial capital was launched in December 2013, the company said in a statement late on Tuesday.

Tata Steel shares ended 1.1 percent up at 367.1 rupees in a flat Mumbai market on Tuesday. ($1 = 60.8050 Indian Rupees) (Reporting by Nandita Bose; Editing by Anupama Dwivedi)