20 Microns climbs after its arm inks pact to acquire 100% stake in Goh Teik Lim Quarry SDN BHD, IQ Marbles SDN BHD
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20 Microns is currently trading at Rs. 218.65, up by 9.25 points or 4.42% from its previous closing of Rs. 209.40 on the BSE.
The scrip opened at Rs. 209.40 and has touched a high and low of Rs. 233.55 and Rs. 201.90 respectively. So far 93305 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 236.10 on 09-Jul-2024 and a 52 week low of Rs. 99.10 on 20-Jul-2023.
Last one week high and low of the scrip stood at Rs. 233.55 and Rs. 201.90 respectively. The current market cap of the company is Rs. 774.36 crore.
The promoters holding in the company stood at 44.95%, while Institutions and Non-Institutions held 0.84% and 54.21% respectively.
20 Microns’ subsidiary -- 20 Microns SDN BHD, Malaysia has signed the share purchase agreements for acquisition of 100% equity shares of Goh Teik Lim Quarry SDN BHD and IQ Marbles SDN BHD for an aggregate value not exceeding RM 15,100,000 (Approximately Rs 27 crore). Pursuant to share purchase agreements becoming effective, Goh Teik Lim Quarry SDN BHD and IQ Marbles SDN BHD would become step-down subsidiaries of 20 Microns.
The entities which are to be acquired are in the same line of business as that of the Company i.e., in the business of extraction and processing of high purity limestone. The acquisition of 100% equity shares of GTLQ SDN BHD and IQ Marbles SDN BHD will enable access to good quality (High purity of Caco3) of limestone reserves in Malaysia especially when such deposits are getting scarce. Accordingly, 20 Microns will have access to quality reserves leading to overall expansion.
