Control Print jumps on inking pact to acquire 75% stake in Markprint
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Control Print is currently trading at Rs. 446.70, up by 14.45 points or 3.34% from its previous closing of Rs. 432.25 on the BSE.
The scrip opened at Rs. 438.70 and has touched a high and low of Rs. 446.70 and Rs. 431.95 respectively. So far 271 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 494.25 on 18-Apr-2022 and a 52 week low of Rs. 294.00 on 21-Oct-2021.
Last one week high and low of the scrip stood at Rs. 459.65 and Rs. 430.00 respectively. The current market cap of the company is Rs. 726.27 crore.
The promoters holding in the company stood at 51.78%, while Institutions and Non-Institutions held 20.24% and 27.99% respectively.
Control Print through wholly owned subsidiary -- Control Print B.V. has entered into an agreement with Markprint B.V. incorporated in Netherlands and their shareholders in relation to acquisition of majority stake (75%) in the equity share capital of said Markprint B.V. i.e. making investment in the form of purchase of 7.50 lakh equity shares of euro 2 each (which consist of 75% of the Paid up share capital). Consequently, Markprint B.V. will become subsidiary of the Control Print.
The object of the proposed acquisition is strategic long term investment to have access to technology as well as access to European Market. The acquisition will be completed by July 31, 2022.
Control Print is a pioneer in the manufacturing of coding and marking solutions in India. Product range of the company includes Continuous Ink Jet Printer, Large Character Printer, Hot Roll Coder, Thermal Transfer Overprinter, Laser and Consumables.
