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Modison Metals to buy 60% stake in Modison Contacts

12 Nov 2014 Evaluate

Modison Metals has received an approval to buy 60% equity shares of Modison Contacts i.e. 4800 equity shares of Rs 100 each fully paid up at Rs 310 per share, to make it subsidiary of the company. The total investment to buy 4800 equity shares at Rs 310 per share will amount to Rs 14.88 lakh. The board of directors at their meeting held on November 05, 2014 has approved for the same.

Modison Metals is an established manufacturer of electrical contacts made of silver and silver alloys for low, medium and high voltage switchgear industry.

Peers
Company Name CMP
Waaree Energies 2341.00
Apar Industries 14355.15
Havells India 1032.00
Suzlon Energy 37.40
Siemens 3250.00
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