Anupam Rasayan rises on getting nod to pick up 24.96% stake in Tanfac Industries
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Anupam Rasayan India is currently trading at Rs. 1018.00, up by 8.30 points or 0.82% from its previous closing of Rs. 1009.70 on the BSE.
The scrip opened at Rs. 1020.00 and has touched a high and low of Rs. 1036.50 and Rs. 1012.00 respectively. So far 2936 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1087.95 on 03-Jan-2022 and a 52 week low of Rs. 472.25 on 31-Mar-2021.
Last one week high and low of the scrip stood at Rs. 1036.50 and Rs. 951.30 respectively. The current market cap of the company is Rs. 10118.17 crore.
The promoters holding in the company stood at 65.40%, while Institutions and Non-Institutions held 9.48% and 25.12% respectively.
Anupam Rasayan India has received approval from its board to acquire a 24.96 per cent stake in Tanfac Industries (TIL) for Rs 148.14 crore from Birla Group Holdings and few other promoter groups of TIL. The company's board has also approved the launch of an open offer to acquire another 26 per cent shareholding from public shareholders of TIL. The open offer (assuming full acceptance) is Rs 154.3 crore, which will be funded through debt.
The company has also executed an amendment pact to the joint venture agreement between Tamil Nadu Industrial Development Corporation (TIDCO) and Birla Group Holdings, pursuant to which ARIL will replace BGH as the joint venture partner of TIDCO in TIL.
Anupam Rasayan India is one of the leading companies engaged in the custom synthesis and manufacturing of specialty chemicals in India.
