Deccan Chronicle to reconsider Odyssey merger, stock surges

Deccan Chronicle Holdings Ltd surged ahead to close at Rs.440.05, up by 20% over its previous close of Rs.366.70. The company´s board of directors met and decided to reconsider the decision to merge M/s.Odyssey India Ltd., with the company.

Odyssey is a retail chain with stores in Chennai, Hyderabad, Varanasi, Trichy, Coimbatore and Salem. Odyssey is a 100% subsidiary of Deccan Chronicle Holdings Ltd.

The company has proposed to list M/s. Odyssey India Ltd through an IPO to unlock the value of the shareholders.

Source : Equity Bulls

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