IVR Prime Updates on Scheme of Amalgamation

IVR Prime Urban Developers Ltd has announced with reference to the meeting of the Board of Directors of the Company held on November 09, 2009 regarding approval of the Amalgamation of IVR Strategic Resources & Services Ltd. and IVRCL Water Infrastructures Ltd. with IVR Prime Urban Developers Ltd. The Company has made the necessary applications to the Hon'ble High Court of Andhra Pradesh pursuant to the provisions of Sections 391 to 394 and other applicable provisions of the Companies Act, 1956. The Hon'ble High Court directed to convene a meeting of the Shareholders of IVR Prime Urban Developers Ltd. on January 22, 2010, to seek their approval for the proposed amalgamation.

An extra-ordinary General Meeting of the shareholders of the Company has been convened to be held on January 22, 2010 regarding the change of name of the Company from IVR Prime Urban Developers Ltd. to IVRCL Assets & Holdings Ltd.

The stock closed the day at Rs.173.10, down by Rs.6.25 or 3.48%. The stock hit an intraday high of Rs.181 and low of Rs.172.10.

The total traded quantity was 25629 compared to 2 week average of 31986.

Source : Equity Bulls

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