GMM Pfaudler zooms on completing acquisition of majority stake in global business of Pfaudler Group
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GMM Pfaudler is currently trading at Rs. 3931.95, up by 192.45 points or 5.15% from its previous closing of Rs. 3739.50 on the BSE.
The scrip opened at Rs. 3750.00 and has touched a high and low of Rs. 3965.00 and Rs. 3711.95 respectively. So far 17713 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 6913.85 on 12-Aug-2020 and a 52 week low of Rs. 1826.00 on 19-Mar-2020.
Last one week high and low of the scrip stood at Rs. 3965.00 and Rs. 3687.45 respectively. The current market cap of the company is Rs. 5712.67 crore.
The promoters holding in the company stood at 54.95%, while Institutions and Non-Institutions held 14.72% and 30.33% respectively.
GMM Pfaudler has successfully completed the transaction to acquire a majority stake of its parent, the Pfaudler Group (Pfaudler) from the private equity firm Deutsche Beteiligungs AG Fund VI (DBAG), after receiving all necessary regulatory approvals.
Pursuant to the acquisition, GMM has become the ultimate holding company of the Pfaudler group, with the entire business of Pfaudler being consolidated into GMM. The combined revenue of the entity is estimated to be around Rs 20 billion ($267 million). GMM is now the world leader in corrosion-resistance technologies, systems and services with 12 manufacturing facilities across 8 countries and 4 continents and employing around 1,500 people.
GMM Pfaudler is the largest manufacturer of glass-lined equipment in India. It is also the Indian subsidiary of US based Pfaudler. They also manufacture Wiped Film Evaporators, Agitated Nutche Filters, Hi efficiency Mixing systems, PTFE lined equipment.
