Man Infraconstruction acquires 98% partnership interest in MICL Builders; Stock ends lower

MICL Builders LLP has become a subsidiary of the company from June 22, 2021.

Jun 23, 2021 03:06 IST India Infoline News Service

Man Infraconstruction Limited has acquired 98% partnership interest in MICL Builders LLP on Tuesday and accordingly MICL Builders LLP has become a subsidiary of the company.

The cost of acquisition at Rs98,000/- being 98% of the partnership interest in MICL Builders LLP having a capital contribution of Rs1 lakh.

MICL Builders LLP was incorporated on March 23, 2016 for carrying out business of real estate and other related activities and is yet to commence business operations.

“The company has acquired the partnership interest in the said entity for carrying out business of real estate and other related activities,” company said in a filing on Tuesday.

Man Infraconstruction Ltd trade on Wednesday ended at Rs57.55 per piece down by Rs1.85 or 3.11% from its previous closing of Rs59.40 per piece on the BSE.

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