Coromandel International rises as its arm subscribes 3.13% share capital of Ecozen
Coromandel International is currently trading at Rs. 1226.60, up by 19.30 points or 1.60% from its previous closing of Rs. 1207.30 on the BSE.
The scrip opened at Rs. 1213.40 and has touched a high and low of Rs. 1226.85 and Rs. 1193.50 respectively. So far 6392 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1287.95 on 18-Dec-2023 and a 52 week low of Rs. 908.80 on 22-May-2023.
Last one week high and low of the scrip stood at Rs. 1229.70 and Rs. 1173.70 respectively. The current market cap of the company is Rs. 36007.43 crore.
The promoters holding in the company stood at 57.32%, while Institutions and Non-Institutions held 27.98% and 14.70% respectively.
Coromandel International’s wholly owned subsidiary -- Dare Ventures has subscribed 3.13% share capital of Ecozen Solutions (Ecozen) at a consideration of Rs 23.99 crore thereby increasing its shareholding in Ecozen to 5.54% of share capital of Ecozen. The objective of acquisition is to be a part of and contribute to the growth of Ecozen by providing it with adequate growth capital. The funds thus raised by Ecozen will be for enhancing technological infrastructure, and for meeting the working capital needs of Ecozen.
Coromandel International is amongst India's pioneers and leading Agri solutions provider, offering diverse products and services across the farming value chain.
