Rudra Ecovation gains on acquiring additional 13% stake in Shiva Texfabs
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Rudra Ecovation is currently trading at Rs. 70.50, up by 0.39 points or 0.56% from its previous closing of Rs. 70.11 on the BSE.
The scrip opened at Rs. 69.00 and has touched a high and low of Rs. 70.00 and Rs. 67.50 respectively. So far 40533 shares were traded on the counter.
The BSE group 'XT' stock of face value Rs. 1 has touched a 52 week high of Rs. 75.00 on 08-Jul-2024 and a 52 week low of Rs. 8.07 on 05-Sep-2023.
Last one week high and low of the scrip stood at Rs. 72.25 and Rs. 66.66 respectively. The current market cap of the company is Rs. 715.27 crore.
The promoters holding in the company stood at 14.01%, while Institutions and Non-Institutions held 5.48% and 80.51% respectively.
Rudra Ecovation has acquired additional 13.37% paid up equity share capital of Shiva Texfabs by purchasing 4701755 equity shares of Rs 10 each, at a premium of Rs 203.75 per share.
Earlier, the company had acquired 7.68% its paid up equity share capital of Shiva Texfabs by purchasing 23,39,181 equity shares of Rs 10 each, at a premium of Rs 203.75 per share.
With this, Rudra Ecovation has acquired 7040936 Equity shares representing 20.02% in Shiva Texfabs.The acquisition is a step towards for expanding the existing business operations and market footprint with better synergy and to support the ongoing expansion of Shiva Texfabs pending the proposed merger between Rudra Ecovation and Shiva Texfabs.
Rudra Ecovation is engaged in the manufacture and sale of cotton and blended yarns in India and internationally. le of vegetable and field crops.
