Crest Ventures has agreed to acquire through preferential allotment, 1,11,35,857 equity shares being 5.12% of the post issue equity share capital of Vascon Engineers subject to shareholders and other regulatory approvals. The object of the proposed purchase/acquisition is strategic long-term investment. The said investment in Vascon is not outside the main line of business of the Crest Ventures.
Crest Ventures has been involved in the development and management of real estate projects and is developing various premium residential and commercial properties in Mumbai, Kolkata, and Chennai, as well as a township in the heart of Raipur city.