Realty stock Man Infraconstruction surged over 1% in Wednesday’s trading session after the company announced it has acquired stake in Man Realtors and Holdings, becoming its wholly-owned subsidiary company.
Man Infracontruction share price opened at ₹168.96 apiece on June 11, as compared to previous close at ₹168.01. The realty stock surged over 1.16 per cent, touching an intraday high to ₹170.92.
The multibagger realty stock has remained volatile in last one year. Man Infraconstruction share price has descended over 15 per cent in one year and over 29 per cent in six months. However, the stock has rewarded its long-term invetsors with multibagger returns by soaring over 1,274.88 per cent in five years.
Man Infraconstruction acquisition details
As per the exchange filing, the company has purchased an additional 17,03,183 equity shares at 215 per share, representing 36.07%, thereby increasing its total holding to 63.93% of the paid-up equity share capital.
“ We wish to inform you that the Company has acquired I agreed to acquire 17,03,183 Equity Shares (representing 36.07% of the paid up equity share capital), of Man Realtors and Holdings Private Limited (‘MRHPL”), wherein the Company holds 63.93% of the paid up equity share capital, and accordingly, MRHPL shall become wholly owned subsidiary of the Company,” the company said in the filing.
The company further added, “ The shares have been acquired/agreed to acquire with an object to make MRHPL as wholly owned subsidiary of the Company.”
On May 27, the company had announced in an exchange filing that its wholly-owned subsidiary, MICL Global, INC., acquired an additional 25 per cent membership interest in MICL TIGERTAIL LLC for $1 million to further its real estate development business.
“We wish to inform you that MICL TIGERTAIL LLC an associate of MICL Global, INC, a wholly owned subsidiary of the company have acquired an additional 25 per cent of the membership interest in the said LLC with effect from May 27, 2025,” Man Infraconstruction said in an exchange filing on May 28.
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