PI Industries trades in green as its arm gets nod to acquire Plant Health Care Plc
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PI Industries is currently trading at Rs. 3847.40, up by 23.05 points or 0.60% from its previous closing of Rs. 3824.35 on the BSE.
The scrip opened at Rs. 3826.50 and has touched a high and low of Rs. 3867.25 and Rs. 3826.50 respectively. So far 2253 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 4032.00 on 09-Apr-2024 and a 52 week low of Rs. 3060.00 on 07-Feb-2024.
Last one week high and low of the scrip stood at Rs. 3974.90 and Rs. 3687.75 respectively. The current market cap of the company is Rs. 58022.32 crore.
The promoters holding in the company stood at 46.09%, while Institutions and Non-Institutions held 44.59% and 9.32% respectively.
PI Industries’ wholly owned subsidiary -- PI Industries Management Consultancies L.L.C has received approval to make ‘Rule 2.7 Announcement’ to acquire Plant Health Care Plc (PHC) (Target entity).
The Target entity will become a step-down subsidiary of the Company. The acquisition will enable the Company to offer integrated agri-solutions across both chemicals and biologicals. The Rule 2.7 Announcement is the Company’s announcement that it has a firm intention to make an offer for the Target. The completion of acquisition may take around 3 months from the date of Rule 2.7 Announcement, subject to the conditions of the Rule 2.7 Announcement getting satisfied.
Plant Health Care Plc is an AIM UK-listed company with subsidiaries in the US, Brazil, Mexico and a few other countries. The board of directors in their meeting held on June 26, 2024 has approved the same.
PI Industries is engaged in the business of- Agri inputs, Fine Chemicals and (CRAMS) Contract Research and Manufacturing Services), Polymers and Engineering Services.
