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Modern India gets nod to acquire remaining 24% stake in Verifacts Services

25 Oct 2018 Evaluate

Modern India’s board has approved the purchase of remaining 24% (1,20,000 equity shares) stake in Verifacts Services at a consideration of Rs 1.5 crore. With this purchase, Verifacts Services will become a wholly owned Subsidiary of the company. The Board of Directors of the company at their meeting held on October 25, 2018, approved the same.

Modern India is into various business verticals inter alia Real Estate and Infrastructure Development, offering Business Centre facilities, Power Generation, Background Verification, Commodities Trading, International procurement solutions and services and Vocational Training amongst others.

Peers
Company Name CMP
Redington 349.60
Adani Enterprises 2682.00
Amrapali Industries 32.78
Maxgrow India 174.80
Rashi Peripheral 689.15
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