DMR Hydroengineering & Infrastructures (BOM:543410) has acquired an additional stake in DM Consulting Engineers to make it a subsidiary, according to a Thursday filing to the stock exchanges.
The company has acquired 55,000 fully paid-up equity shares of DMR Hydroengineering having face value of 10 rupees each, per equity share amounting to 550,000 rupees.
With this, the company's shareholding in DM Consulting has increased from 49% to 60%.
DM Consulting is engaged in engineering, procurement, and consulting services in new energies and new materials.
With this investment, DMR Hydroengineering will be able to venture into new avenues for growth.
Shares of the company were down over 5% in recent trade.
Price (INR): ₹155.00, Change: ₹-8.8, Percent Change: -5.37%
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