Arihant Superstructure Ltd....cmp..Rs 76.50

Friends,
Arihant Superstructure Ltd.I am tracking this one when I saw an open offer for Shaktiman Mercantile Ltd.
The trigger was in Shaktiman Mercantile was it has a very very tiny eq of 25 lacs.
So if one will go to annoucement at bse one can find out how Shaktiman Mercantile turned into Arihant Superstructure Ltd.
As the Eq was just 25 lacs means only 2.50 lacs shares they gave right at the ratio of 59:1.Means 59 shares for every 1 shares held.
But as the floating stock was very small, it went up and up from a low of rs 4.63 to rs 122.75 and after that the stock has corrected to this level.
The new management has merged their Co in Arihant Superstructure Ltd and thereby listed their Realty Co.

1)Acquisition of Subsidiary Companies:



Your Board is pleased to inform you, that the Company has acquired an investment in two companies, Arihant Abode Limited (AAL) and Arihant Vatika Realty Private Limited (AVRPL). Your company has a 60%  stake in both these Companies, making them subsidiaries of your Company.
AAL and AVRPL are in the business of realty and constructions. Acquiring these subsidiaries has opened up
new avenues for your Company in different areas within the Real Estate Sector. There has been no material
change in the nature of the business of the subsidiaries.

2)Annoucement at bse:

Arihant Superstructures Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 25, 2010, has transacted the following business:

1. Noted and approved the items passed by the executive committee of the Board.
2. Discussed a approved the purchase of approx 11.50 acres Land at Jodhpur, in the State of Rajasthan which is conveyed and registered in company's name. The project is planned for Group Residential Housing project of about 800 flats consisting 8.50 Lac sqft of salable area in Phase I.
3. Approved the recommendation of audit committee to make the Adeshwar Realty Pvt. Ltd. as wholly owned subsidiary of Arihant Superstructures Ltd. on the valuation as approved by the audit committee and Board members.
4. Noted the updates received from subsidiary - Arihant Abode Ltd that the Land of 18 acres is acquired & conveyed. Architectural planning is done & sent for Location approval to MMRDA, Maharashtra Govt. which consists of 28 storeyed 25 Buildings having 3080 flats, saleable area of approx 34 lac sqft.
5. Approved to take up more projects at Jodhpur in the State of Rajasthan n the form of Pubic Private Partnership and / or outright basis.


More information about the completed project,projects on hand and ongoing projects can be found from their website which is as under:

http://www.asl.net.in/index.php

http://www.asl.net.in/completed.htm

One can always explore more of what they wants to from reading the annoucement at bse and also reading the website or reading the AR which some good corporate governance Co put on bse site.Arihant Super has put their latest AR on bse website.
Now please don't ask me where it is......find out of your own.....I found it on my own.....no spoonfeeding please........
72% stake is held by promoters and 7% by private Corp bodies.....rest is with public.....
Have a look at it, do DD  and if find good then buy it.........