Camlin Fine Sciences gains as its arm inks pact to acquire 100% stake in Vitafor Invest
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Camlin Fine Sciences is currently trading at Rs. 110.70, up by 6.74 points or 6.48% from its previous closing of Rs. 103.96 on the BSE.
The scrip opened at Rs. 107.70 and has touched a high and low of Rs. 113.33 and Rs. 107.00 respectively. So far 128011 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 186.25 on 07-Sep-2023 and a 52 week low of Rs. 80.00 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 113.33 and Rs. 92.14 respectively. The current market cap of the company is Rs. 1867.24 crore.
The promoters holding in the company stood at 48.03%, while Institutions and Non-Institutions held 6.23% and 45.74% respectively.
Camlin Fine Sciences’ wholly owned subsidiary -- Dresen Quimica SAPI De CV, Mexico has entered into an Share Purchase Agreement (SPA) on June 11, 2024 to acquire 100% stake in Vitafor Invest NV, Belgium and its underlying subsidiaries/associates namely Addi-Tech NV (100%); Vitafor NV (100%); Vitafor China (100%); Europe Bio Engineering BV (100%) and Vial Sarl (45%), subject to the terms and conditions of the SPA executed between them.
The product basket of Vitafor Invest will be aligned with the company’s Group and marketing of the basket products will be carried out with the existing customers. The acquisition could be an excellent synergy to grow the product lines of Vitafor Invest with the existing customers. The Group will use the facility of Vitafor and Vitafor’s network to augment and grow in the European feed and pet food market and also in the African market.
Camlin Fine Sciences (CFS) is the leading integrated manufacturer of the most preferred traditional antioxidants (Shelf Life Solutions) available.
