Indiaco acquires 25.64 pc stake in Verity

MUMBAI: Financial services provider Indiaco Ventures Ltd has acquired 25.64 per cent stake in Verity Technologies Pvt Ltd.

Verity Technologies specialises in providing end-to-end development and consulting services for cell phone wireless software and game development, the company informed the Bombay Stock Exchange (BSE).

All the formalities for transfer of the stake had been completed now in pursuance of authority given by the board of directors of the company, it said.

The company, presently holding over 3.33 lakh equity shares of Verity Technologies, is looking forward to further increase its stake in that company, it said.

The scrip of Indiaco Ventures closed at Rs 204.75, indicating a gain of 5 per cent over Friday's closing price of Rs 195 on the BSE.