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Valuemart Retail acquires 59.86% stake in Residency Projects

 

Valuemart Retail (India) (Valuemart)  that Valuemart have acquired 573,950 equity shares of Residency Projects & Infratech representing 59.86% of the total paid up equity of the company from the existing promoters.

The acquisition was done on Nov. 18, 2010 as an off market transaction vide share purchase agreement dated Nov. 18, 2010. The stock had underperformed the market over the past one month till Nov. 23, 2010, 0.00% compared with the Sensex`s 2.35% decline. It underperformed the market in past one quarter, 0.00% as against 6.97% rise in the Sensex.
Source: My Iris

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