Changes name to “Valuemart Retail Solutions Limited”

Residency Projects & Infratech Limited (RPIL), a Bangalore based Company listed on the Bombay Stock Exchange (BSE) and Bangalore Stock exchange (BgSE), has announced that it has appointed C K Vasudevan as Managing Director of the Company for a period of 5 Years with effect from 01.04.2011.

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C K Vasudevan was formerly the Managing Director of Valuemart Info Technologies Limited, a BSE and BgSE listed firm.  He is also the promoter of Valuemart Retail (India) Limited, a Bangalore based B2C & Retail Solutions firm.

Vasudevan has over 25 years experience in Banking, Wealth Management, Corporate Finance & Restructuring.  He was instrumental in successfully turning around Valuemart Info Technologies Ltd.  

Valuemart Retail (India) Limited, had acquired a 59.86% stake (573950 Shares) in M/s Residency Projects & Infratech Ltd from the existing Promoters on 18th November 2010. It acquired another 11.95% stake (114580 Shares) through open offer from the public shareholders raising its total shareholding to 71.81% (688530 Shares).

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