VLS Finance Ltd acquires further stake in VLS Securities Ltd

VLS Finance Ltd has acquired one lakh equity shares of Rs. 10/- each of VLS Securities Limited, a subsidiary of the Company, from VLS Capital Limited, a constituent of Promoter Group of the Company on 1st September 2021, for an outlay of about Rs. 4.93 crores. The said acquisition was at arm's length with the aforesaid related party, since the consideration was arrived at on the basis of Independent Valuer's report. Besides, it is not a material transaction as per applicable regulations and materiality policy of the Company.

The Company along with 6 other nominees, now holds 100% share capital of VLS Securities Limited and therefore, the status of VLS Securities Limited has changed to "Wholly Owned Subsidiary of the Company" from "Subsidiary of the Company".

Shares of VLS Finance Limited was last trading in BSE at Rs. 211.2 as compared to the previous close of Rs. 202.05. The total number of shares traded during the day was 18741 in over 993 trades.

The stock hit an intraday high of Rs. 214.9 and intraday low of 200.05. The net turnover during the day was Rs. 3916253.

Source : Equity Bulls

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