Meghmani Organics trades higher on acquiring Kilburn Chemicals
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Meghmani Organics is currently trading at Rs. 114.70, up by 1.90 points or 1.68% from its previous closing of Rs. 112.80 on the BSE.
The scrip opened at Rs. 112.50 and has touched a high and low of Rs. 116.65 and Rs. 112.50 respectively. So far 89742 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 149.90 on 03-Sep-2021 and a 52 week low of Rs. 80.75 on 24-Nov-2021.
Last one week high and low of the scrip stood at Rs. 116.65 and Rs. 101.20 respectively. The current market cap of the company is Rs. 2920.80 crore.
The promoters holding in the company stood at 51.51%, while Institutions and Non-Institutions held 1.34% and 47.14% respectively.
Meghmani Organics (MOL) has completed an acquisition of Kilburn Chemicals (KCL). MOL paid Rs 132 crore (including Rs 12.15 crore towards equity subscription) as per the National Company Law Tribunal (NCLT) approved resolution plan dated December 16, 2021.
Thus, the Company has diversified its Pigment Division's product offering with Kilburn Chemicals acquisition, fast-tracking its foray into Titanium Dioxide (TiO2). The aforesaid acquisition has been funded from MOL's internal accruals.
Meghmani Organics is into the manufacture of Pigments and Agrochemicals in India and have a focus on delivering quality products backed by Research and Development efforts.
