Ganesha Ecoverse jumps on inking pact to acquire stake in GESL Spinners
Ganesha Ecoverse is currently trading at Rs. 72.15, up by 1.41 points or 1.99% from its previous closing of Rs. 70.74 on the BSE.
The scrip opened at Rs. 73.35 and has touched a high and low of Rs. 74.89 and Rs. 71.45 respectively. So far 27500 shares were traded on the counter.
The BSE group 'M' stock of face value Rs. 10 has touched a 52 week high of Rs. 105.00 on 13-Feb-2024 and a 52 week low of Rs. 60.05 on 25-Sep-2023.
Last one week high and low of the scrip stood at Rs. 77.00 and Rs. 66.50 respectively. The current market cap of the company is Rs. 80.66 crore.
The promoters holding in the company stood at 1.34%, while Non-Institutions held 98.66% stake in the company.
Ganesha Ecoverse has entered into a Share Subscription Agreement with GESL Spinners (GSPL) to acquire 2,73,50,000 Equity Shares of GSPL. With this investment, Company’s shareholding in GSPL would be around 45%. The funds that will be invested by the Company in GSPL would be utilized for repayment of its debts and/ or purchase of plant and machinery and for other general corporate purposes.
Ganesha Ecoverse is the largest PET recycler in India. It is engaged in the manufacturing of Recycled Polyester Staple Fibre (RPSF), dyed texturised yarn and spun yarn with its advanced manufacturing facilities.
