Pearl Global Industries rises as its arm agrees to acquire remaining 20% stake in Pearl Grass Creations
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Pearl Global Industries is currently trading at Rs. 437.35, up by 2.60 points or 0.60% from its previous closing of Rs. 434.75 on the BSE.
The scrip opened at Rs. 412.20 and has touched a high and low of Rs. 437.35 and Rs. 412.20 respectively. So far 10 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 615.05 on 30-Aug-2022 and a 52 week low of Rs. 327.25 on 20-Jun-2022.
The promoters holding in the company stood at 66.58%, while Institutions and Non-Institutions held 6.41% and 27.01% respectively.
Last one week high and low of the scrip stood at Rs. 452.35 and Rs. 412.20 respectively. The current market cap of the company is Rs. 947.47 crore.
Pearl Global Industries’ Wholly Owned Subsidiary -- Pearl Global (HK), Hong Kong has agreed to acquire remaining 20% stake in overseas Step-down subsidiary i.e. Pearl Grass Creations, Hong Kong. By way of this acquisition, the company intends to increase its stake in the Subsidiary Company from 80% to 100%. Cost of acquisition is $70,00,000 (including deferred consideration). The said acquisition is expected to be completed on May 15, 2023.
Pearl Global Industries is an end-to-end clothing vendor and supplier with a presence across the globe.
