01-01-1970 12:00 AM | Source: Accord Fintech
SJS Enterprises shines on getting nod to acquire 90.1% stake in Walter Pack Automotive Products
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SJS Enterprises is currently trading at Rs. 468.10, up by 17.90 points or 3.98% from its previous closing of Rs. 450.20 on the BSE.

The scrip opened at Rs. 450.20 and has touched a high and low of Rs. 468.65 and Rs. 450.20 respectively. So far 488 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 550.00 on 05-Sep-2022 and a 52 week low of Rs. 372.40 on 26-May-2022.

Last one week high and low of the scrip stood at Rs. 468.65 and Rs. 400.05 respectively. The current market cap of the company is Rs. 1370.31 crore.

The promoters holding in the company stood at 50.37%, while Institutions and Non-Institutions held 19.01% and 30.62% respectively.

SJS Enterprises has received approval from board of directors to acquire 90.1% stake in Walter Pack Automotive Products India (WPI) for a total cash consideration of Rs 239.30 crore. The signing of the definitive agreements for the transformative acquisition of WPI lays the groundwork for a strategic collaboration with Walter Pack Spain and one of its minority shareholders, Antolin. WPI, a subsidiary of Walter Pack Spain, is a leader in the design and development of high value-added functional decorative parts in the Indian market.

The work of Walter Pack's Color & Trim and R&D departments has made it an international reference in IMD, IML and IME advanced technologies, and especially in IMF, the company's core business. The agreement between the two makes SJS the leading supplier to the automotive and consumer durables segments in Asia, thanks to WPI's state-of-the-art facilities in Pune, Maharashtra and Manesar, Haryana, equipped to cater to future growth.

SJS Enterprises is one of the leading players in the Indian decorative aesthetics industry, offered the widest range of aesthetics products in India.