NCC shines on entering into Share Purchase agreement with GRPL Housing
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NCC is currently trading at Rs. 63.10, up by 4.55 points or 7.77% from its previous closing of Rs. 58.55 on the BSE.
The scrip opened at Rs. 61.00 and has touched a high and low of Rs. 64.45 and Rs. 61.00 respectively. So far 1068045 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 98.45 on 12-Jul-2021 and a 52 week low of Rs. 55.80 on 24-Feb-2022.
Last one week high and low of the scrip stood at Rs. 64.45 and Rs. 58.20 respectively. The current market cap of the company is Rs. 3857.28 crore.
The promoters holding in the company stood at 19.68%, while Institutions and Non-Institutions held 23.76% and 56.56% respectively.
NCC along with other shareholders of NCC Vizag Urban Infrastructure (NCCVUL) (Subsidiary Company) have entered into a Share Purchase agreement (SPA) with GRPL Housing (Gardencity Realty Group, Bangaluru) to sell and transfer their entire shareholding in NCCVUL to GRPL Housing.
Upon completion of the aforesaid transaction in terms of the SPA, the Company shall transfer its entire shareholding in NCCVUL and NCCVUL will cease to be a subsidiary of the Company. The total consideration received by the company is Rs 199.50 crore and which will be received in 4 installments. The 1st payment of Rs 47.50 crore will be on March 31, 2022, Rs 52.25 crore September 30, 2022, Rs 52.25 crore on December 31, 2022 and the balance Rs 47.50 crore on March 31, 2023.
NCC is engaged in development of real estate. The company’s projects stand on credentials of its work in various sectors such as Housing, Transportation, Power, water, Metals and Oil and gas.
