IRB Infrastructure Developers (IRB) has completed the process of acquisition of 74% holding of MVR Infrastructure & Tollways and thereby MVR has now become a subsidiary of IRB Infrastructure Developers with effect from October 2012.
Further, as per the definitive agreement executed between IRB and the promoters of MVR Infrastructure & Tollways, the acquisition of remaining 26% holding of MVR will be completed once NHAI approves transfer of this 26% holding to IRB.
Earlier in May 09, 2012, IRB had executed definitive agreements with the MVR Infrastructure & Tollways promoters, existing institutional shareholders and other shareholders of the company for an aggregate consideration not exceeding Rs 130 crore.
IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.
Company Name | CMP |
---|---|
Larsen & Toubro | 3686.75 |
Rail Vikas Nigam | 390.00 |
KEC International | 935.20 |
Kalpataru Projects | 1222.50 |
NCC | 328.75 |
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