Comments
OM Metals Infraprojects has informed the stock exchanges that it has agreed to acquire the remaining 50 per cent shareholding in Om Metals-SPML Infraprojects Private Limited for ₹1.90 crore. Post acquisition, the joint venture company will become its wholly-owned subsidiary. The object of the acquisition is to carry on the EPC business of turnkey construction contracts comprising civil structures, engineering, procurement, manufacture, supply, installation and commissioning contracts for hydromechanical equipment. The acquisition does not fall within the definition of related-party transactions, as the promoter group has no interest in the company, OM Metals said in the statement to the exchanges. Shares of OM Metal slipped 2.11 per cent at ₹67.15 on the NSE.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.