IVR Prime gets HC approval for amalgamation scheme

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IVR Prime gets HC approval for amalgamation scheme

IVR Prime Urban Developers Ltd has informed BSE that the Honourable High Court of Andhra Pradesh approved the scheme of amalgamation of IVR Strategic Resources & Services Ltd and IVRCL Water Infrastructures Ltd with IVR Prime Urban Developers Ltd, which has earlier been approved by the shareholders.

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IVR Prime Urban Developers Ltd has informed BSE that the Honourable High Court of Andhra Pradesh approved the scheme of amalgamation of IVR Strategic Resources & Services Ltd and IVRCL Water Infrastructures Ltd with IVR Prime Urban Developers Ltd, which has earlier been approved by the shareholders.

IVR Prime is a subsidiary of IVRCL Infrastructures & Projects Ltd (IVRCL). IVR Prime is inter alia engaged in the business of urban infrastructure development i.e., projects relating to townships, mega mall and real estate property development.

After issue of shares as per the swap ratio, the shareholding of IVRCL will increase to 80.46%.

IVR Prime has touched an intraday high of Rs 192.00 and an intraday low of Rs 179.40.
 
At 09:16 hrs the share was quoting at Rs 187.10, up Rs 12.00, or 6.85%.
 
It was trading with volumes of 54,588 shares, compared to its 5-day and 30-day average of 75,949 and 25,770 shares respectively. Yesterday the share closed down 0.45% or Rs 0.80 at Rs 175.10.
 
The company touched its 52 week high Rs 211.50 and 52 week low Rs 26.50 on 18 Jan, 2010 and 16 Mar, 2009, respectively.
 
Currently, it is trading -11.54% below its 52-week high and 606.04% above its 52-week low.
 
Market capitalisation stands at Rs 1,200.25 crore

IVR Prime - Results
 
The company's trailing 12-month (TTM) EPS was at Rs -2.21 per share. (Dec, 2009). The latest book value of the company is Rs 153.34 per share. At current value, the price-to-book value of the company was 1.22. The dividend yield of the company was 0%.