SKF India gains on inking pact to acquire stake in Clean Max Taiyo
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SKF India is currently trading at Rs. 4361.00, up by 13.60 points or 0.31% from its previous closing of Rs. 4347.40 on the BSE.
The scrip opened at Rs. 4347.40 and has touched a high and low of Rs. 4396.25 and Rs. 4340.00 respectively. So far 354 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 5170.85 on 22-Nov-2022 and a 52 week low of Rs. 3060.00 on 19-May-2022.
Last one week high and low of the scrip stood at Rs. 4759.95 and Rs. 4165.00 respectively. The current market cap of the company is Rs. 21456.08 crore.
The promoters holding in the company stood at 52.58%, while Institutions and Non-Institutions held 35.61% and 11.81% respectively.
SKF India has entered into a Share Holders’ Agreement with Clean Max Taiyo on May 15, 2023 for further acquisition of 26,267 fully paid-up equity shares of Rs 10 each at premium of Rs 1,596 each share, equivalent to 26% of the total issued and paid-up share capital of Clean Max Taiyo. The acquisition is likely to complete up to December 31, 2023. Clean Max Taiyo has been incorporated pursuant to the requirement under the Electricity Act, 2002 and its rules for commissioning a captive power generating plant for generation and supply of electricity to SKF.
SKF India is a leading global supplier of rolling bearing and seals. The company provides products, solutions and services in the areas of rolling bearings, seals, mechatronics, services and lubrications systems.
