OM Infra to buy additional stakes in two companies; Stock dives 3%

These two companies are - Bihar Logistics and Gujrat Warehousing.

Jun 18, 2021 03:06 IST India Infoline News Service

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OM Infra stock was under a selling bias on Friday despite the company bagged approval for acquiring additional stakes in two companies namely - Bihar Logistics and Gujrat Warehousing.

As per the regulatory filing, the company will buy an additional 49% shareholding of Bihar Logistics Private Limited by way of the acquisition of Equity Shares, thereby making it a 99 % subsidiary company.

Also, the company received approval for the acquisition of an additional 24.99 % shareholding of Gujrat Warehousing Private Limited by way of acquisition of equity shares, thereby making it a 99 % subsidiary Company.

At around 3.14 PM, OM Infra was trading at Rs25.75 per piece down by 2.83% on Sensex. 

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