TVS Holdings Ltd acquires additional 11.66% stake in Emerald Haven Realty Ltd

TVS Holdings Limited has acquired an additional stake of 11.66% in Emerald Haven Realty Limited ("EHRL"), Subsidiary Company, by way of purchase of shares from an existing shareholder. 11.66% of total shareholding amounting to 2,97,79,024 equity shares of Rs. 10/- each was purchased at Rs. 15/- per share amounting to Rs. 44.67 Cr.

EHRL is engaged in the business of real estate development and construction. It is headquartered in Chennai. EHRL presents great diversification potential which has been conceptualized by the company and hence this additional investment is made.

Consequent to the additional acquisition, the Company's stake in EHRL has increased to 89.26% from 77.60%.

Shares of TVS Holdings Limited was last trading in BSE at Rs. 8121.90 as compared to the previous close of Rs. 8174.50. The total number of shares traded during the day was 243 in over 148 trades.

The stock hit an intraday high of Rs. 8158.00 and intraday low of 7900.00. The net turnover during the day was Rs. 1945604.00.

Source : Equity Bulls

Keywords

TVSHoldings INE105A01035 StakeIncrease EmeraldHavenRealty