MPS trades jubilantly on completing acquisition of 100% stake in E.I. Designs
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MPS is currently trading at Rs. 631.00, up by 21.50 points or 3.53% from its previous closing of Rs. 609.50 on the BSE.
The scrip opened at Rs. 621.05 and has touched a high and low of Rs. 632.85 and Rs. 618.70 respectively. So far 125 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 805.00 on 20-Aug-2021 and a 52 week low of Rs. 505.60 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 637.20 and Rs. 580.10 respectively. The current market cap of the company is Rs. 1042.60 crore.
The promoters holding in the company stood at 68.34%, while Institutions and Non-Institutions held 6.01% and 25.65% respectively.
MPS has completed the acquisition of 100% of the issued and paid up equity share capital of E.I. Designs through MPS Interactive Systems (MPSI), a wholly owned subsidiary of the Company by executing a share purchase agreement (Share Purchase Agreement). The shares held by the shareholders of E.I. Design have been purchased by MPSI by executing a share purchase agreement at a consideration of Rs 40 crore on a cash-free, debt-free basis.
The acquisition of EI Design furthers the inherent momentum in company’s eLearning business. MPS Interactive will benefit from the significant operational efficiency gains that will be enabled by EI Design’s proprietary operating model.
MPS is a leading global provider of platforms and content solutions for the digital world.
