Kilpest India jumps as its arm signs non-binding LoI to acquire 100% shares of European based company
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Kilpest India is currently trading at Rs. 423.95, up by 23.85 points or 5.96% from its previous closing of Rs. 400.10 on the BSE.
The scrip opened at Rs. 412.00 and has touched a high and low of Rs. 425.00 and Rs. 412.00 respectively. So far 12483 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 537.85 on 05-Jan-2022 and a 52 week low of Rs. 281.00 on 27-Jul-2022.
Last one week high and low of the scrip stood at Rs. 425.00 and Rs. 397.10 respectively. The current market cap of the company is Rs. 300.40 crore.
The promoters holding in the company stood at 38.43%, while Institutions and Non-Institutions held 1.64% and 59.93% respectively.
Kilpest India’s subsidiary -- 3B BlackBio Biotech India has signed a non-binding Letter of Intent (LoI) to acquire 100% shares of a European based company that specializes in the development and manufacture of innovative high-quality products for the life science and molecular diagnostic markets. The acquisition of this business would represent a strategic investment in the related field of life science research and molecular diagnostics.
The deal is subject to customary financial, legal and business due diligence, as well as regulatory approvals. An exclusivity period of 60 days has been agreed upon between the parties to complete the due diligence. The acquisition will be funded fully with internal accruals by 3B Blackbio Biotech India and its subsidiary TRUPCR Europe.
Kilpest India is one of India's leading agri-based companies. The Company manufactures, imports, exports, buys, and sells biological compounds derived from plants, animals, micro organisms.
