PNC Infratech zooms on getting CCI’s nod to acquire Jaiprakash Associates
PNC Infratech is currently trading at Rs. 317.45, up by 13.00 points or 4.27% from its previous closing of Rs. 304.45 on the BSE.
The scrip opened at Rs. 308.40 and has touched a high and low of Rs. 325.15 and Rs. 308.40 respectively. So far 94808 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 470.40 on 16-Oct-2024 and a 52 week low of Rs. 235.70 on 07-Apr-2025.
Last one week high and low of the scrip stood at Rs. 325.15 and Rs. 302.20 respectively. The current market cap of the company is Rs. 8205.41 crore.
The promoters holding in the company stood at 56.07%, while Institutions and Non-Institutions held 33.03% and 10.90% respectively.
PNC Infratech has received approval from the Competition Commission of India (CCI) for acquisition of Jaiprakash Associates (JAL). The proposed combination relates to the acquisition of minimum 95% and maximum up to 100% of JAL by PNC Infratech (acquirer), or through a special purpose vehicle company that the acquirer may incorporate in the future as its wholly owned subsidiary to acquire JAL. JAL is currently undergoing corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016.
PNC Infratech is an infrastructure construction, development and management company, with expertise in execution of major infrastructure projects, including highways, bridges, flyovers, airport runways, power transmission lines, development of industrial areas and other infrastructure activities.
