Agribio Spirits jumps on inking pact to acquire M/s Solkit Distillery & Brewery
Agribio Spirits is currently trading at Rs. 177.45, up by 3.65 points or 2.10% from its previous closing of Rs. 173.80 on the BSE.
The scrip opened at Rs. 170.35 and has touched a high and low of Rs. 182.45 and Rs. 170.35 respectively. So far 12322 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 182.45 on 03-Apr-2025 and a 52 week low of Rs. 42.95 on 15-Apr-2024.
Last one week high and low of the scrip stood at Rs. 182.45 and Rs. 160.05 respectively. The current market cap of the company is Rs. 182.94 crore.
The promoters holding in the company stood at 47.42%, while Non-Institutions held 52.58% stake in the company.
Agribio Spirits has entered into a Share Purchase Agreement (SPA) for the purpose of acquisition of 5,00,000 equity shares equivalent to 100% of the total issued and paid-up capital of M/s Solkit Distillery & Brewery (SDBPL) to acquire running business of bottling (Manufacturing) of Country Liquor (CL)/ Rajasthan Made Liquor (RML) and India Made Foreign Liquor (IMFL) with a capacity of around 1,45,000 cases per month. The company has inked a SPA with Soli Ilavia (Seller I), Anosh Ilavia (Seller II), Arash Ilavia (Seller III), Solkit Cosmetics (Seller IV) and Crystal Ilavia (Seller V) for the said acquisition. The cost of acquisition of said business is Rs 13 crore.
On the completion of the said proposed acquisition, the company will hold 100% of total issued and paid-up share capital of the SDBPL resulting the same SDBDL becomes the wholly-owned subsidiary of the company.
Agribio Spirits (formally known as Beekay Niryat) is engaged in export of lather, jute, handicraft and trading of commodities.
