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Man Infraconstruction increases stake in associate company

17 Oct 2023 Evaluate

Man Infraconstruction (MICL) has increased its equity ownership in its associate company, Atmosphere Realty (ARPL), by acquiring an additional 12.5% stake. As a result, MICL has increased its equity holding in ARPL from the previous 17.5% to a significant 30%. This acquisition was completed for a cash consideration of Rs 12.5 crore. The object of acquisition is to carry out business of Real Estate Development and other lawful activities.  

Man Infraconstruction is an India-based company engaged in the business of civil construction. The company’s operations consist of construction / project activities/real estate activities.


Peers
Company Name CMP
Larsen & Toubro 3827.00
Kalpataru Projects 1342.20
NCC 117.60
Rail Vikas Nigam 185.20
KEC International 343.45
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