Adani Wilmar rises on inking pact to acquire 67% stake in Omkar Chemical Industries
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Adani Wilmar is currently trading at Rs. 338.10, up by 3.90 points or 1.17% from its previous closing of Rs. 334.20 on the BSE.
The scrip opened at Rs. 339.85 and has touched a high and low of Rs. 340.15 and Rs. 337.25 respectively. So far 61967 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 422.55 on 26-Jul-2023 and a 52 week low of Rs. 285.85 on 20-Nov-2023.
Last one week high and low of the scrip stood at Rs. 347.50 and Rs. 332.10 respectively. The current market cap of the company is Rs. 43435.26 crore.
The promoters holding in the company stood at 87.87%, while Institutions and Non-Institutions held 0.98% and 11.15% respectively.
Adani Wilmar has entered into a Share Subscription and Share Purchase Agreement for taking a majority stake of 67% in Omkar Chemical Industries (OCIPL), Gujarat. The acquisition is in line with the company’s strategy to increase its presence in the specialty chemical industry. Cost of acquisition is Rs 56.25 crore (subject to closing adjustments thereto). The acquisition is expected to be completed within 3-4 months.
Adani Wilmar is one of the few large FMCG food companies in India to offer most of the essential kitchen commodities for Indian consumers, including edible oil, wheat flour, rice, pulses and sugar. Its products are offered under a diverse range of brands across a broad price spectrum and cater to different customer groups.
