Oct 14: Ahmedabad-based real estate firm Nila Infrastructures Ltd has acquired 100% equity share capital of Parmananday Superstructure Ltd for a total cash consideration of Rs 2.69 lakh.
Consequently, Parmananday Superstructure has become a wholly owned subsidiary of the company as on October 13, 2017, Nila Infrastructures said.
“The purpose of the acquisition is to structure a wholly owned subsidiary of the company to undertake strategic and operative exercise . The main object of Parmananday Superstructure is in line with the main object of the company,” it added.
Incorporated in 2000, Parmananday Superstructure is engaged in providing consultancy services mainly to the construction and real estate industry and construction and development of real estate. The company has business presence in India only.
Promoted by Manoj B Vadodaria and Kiran B Vadodaria, Nila Infrastructures Ltd is a leading player in developing civic urban infrastructure projects on EPC, turnkey, PPP mode, as well as private white label construction and industrial infrastructure projects.