Dhampur Bio Organics gains on getting nod to acquire 100% stake in Sonitron Bio Organics
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Dhampur Bio Organics is currently trading at Rs. 129.15, up by 1.75 points or 1.37% from its previous closing of Rs. 127.40 on the BSE.
The scrip opened at Rs. 130.20 and has touched a high and low of Rs. 130.60 and Rs. 126.45 respectively. So far 1638 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 171.40 on 29-Nov-2023 and a 52 week low of Rs. 112.90 on 05-Jun-2024.
Last one week high and low of the scrip stood at Rs. 130.60 and Rs. 119.80 respectively. The current market cap of the company is Rs. 847.11 crore.
The promoters holding in the company stood at 50.78%, while Institutions and Non-Institutions held 2.19% and 47.03% respectively.
Dhampur Bio Organics has received approval to acquire 100% shareholding (10,000 equity shares of Rs 10 each) of M/s Sonitron Bio Organics. Consequently, Sonitron Bio Organics will become a wholly owned subsidiary of the company.
The objective of acquisition is to enter new markets/ customers segments through new subsidiary and it will allow to exploit opportunities available in the market for agri and other allied products including sugar. The management committee of Board of Directors at its Meeting held on November 27, 2024, has approved the same.
Dhampur Bio Organics is a leading, integrated sugarcane processing company in India. It manufactures refined and raw sugar, bio-fuels, biomass based renewable power and other related products.
