Mercury Metals has acquired 100% stake in Kavit Infra Project, and with such acquisition Kavit Infra Project now becomes wholly owned subsidiary of the company. The shares of the Kavit Infra Project are acquired from its shareholders at value of Rs 10 per equity shares. The aggregate amount of consideration paid for acquisition of 100% holding i.e.10,000 equity shares is Rs 1 lakh
Through this acquisition the company intends to diversify company’s business in new line of activities which will increase in its turnover and net profit (Consolidated).
Mercury Metals is engaged in the business of trading of ferrous and non-ferrous metals.
