Faze Three jumps as its arm acquires existing factory premises from Basell Polyolefins India
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Faze Three is currently trading at Rs. 352.45, up by 7.10 points or 2.06% from its previous closing of Rs. 345.35 on the BSE.
The scrip opened at Rs. 342.30 and has touched a high and low of Rs. 354.00 and Rs. 342.05 respectively. So far 15129 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 434.00 on 11-Jul-2023 and a 52 week low of Rs. 251.00 on 23-Feb-2023.
Last one week high and low of the scrip stood at Rs. 359.00 and Rs. 340.00 respectively. The current market cap of the company is Rs. 856.03 crore.
The promoters holding in the company stood at 56.16%, while Institutions and Non-Institutions held 0.12% and 43.72% respectively.
Faze Three’s Wholly Owned Subsidiary -- Mats and More has acquired an existing factory premises from Basell Polyolefins India situated at Aurangabad vide Deed of Assignment executed on August 17, 2023. The cost of acquisition for the said premises is Rs 5.16 crore and has an area of 10,500 sq. meter.
The said acquisition empowers the company to pursue a growth plan for the category of outdoor and performance mats including patio mats. The said acquisition is part of the planned expansion as updated in the quarterly investor presentations from time to time.
Faze Three manufactures and sells home furnishing products in India. It also offers automotive textiles to OEMs.
