Hindustan Foods soars on completing acquisition of 100% stake in RBSIPL
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Hindustan Foods is currently trading at Rs. 1789.90, up by 65.85 points or 3.82% from its previous closing of Rs. 1724.05 on the BSE.
The scrip opened at Rs. 1738.95 and has touched a high and low of Rs. 1789.90 and Rs. 1738.90 respectively. So far 116 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2361.50 on 17-Jan-2022 and a 52 week low of Rs. 1643.65 on 21-Jun-2022.
Last one week high and low of the scrip stood at Rs. 1799.50 and Rs. 1707.15 respectively. The current market cap of the company is Rs. 3961.78 crore.
The promoters holding in the company stood at 64.85%, while Institutions and Non-Institutions held 12.66% and 22.50% respectively.
Hindustan Foods (HFL) has completed the acquisition of 100% Equity Share Capital of Reckitt Benckiser Scholl India (RBSIPL) for a cash consideration of Rs 74.89 crore as per the terms and conditions of the SPA dated Jan 24, 2022 including amendments thereof (if any) entered between the Company and Reckitt Benckiser (India) (Sellers).
Post completion of aforesaid acquisition, RBSIPL has become a wholly-owned Subsidiary of the Company with effect from July 1, 2022. This acquisition marks an entry of HFL into the new segment of manufacturing of OTC Healthcare and Wellness Products which is very fast growing and attractive as consumers are increasingly becoming more aware about preventive healthcare solutions for their wellbeing.
HFL specializes in setting up one-stop contract manufacturing solutions and the ability to consistently deliver quality products.
