Shree Renuka Sugars shines on getting nod to acquire 100% stake in Anamika Sugar Mills
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Shree Renuka Sugars is currently trading at Rs. 55.90, up by 1.61 points or 2.97% from its previous closing of Rs. 54.29 on the BSE.
The scrip opened at Rs. 54.76 and has touched a high and low of Rs. 57.25 and Rs. 54.76 respectively. So far 1916924 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 68.70 on 11-Oct-2022 and a 52 week low of Rs. 39.50 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 57.25 and Rs. 52.71 respectively. The current market cap of the company is Rs. 11919.54 crore.
The promoters holding in the company stood at 62.48%, while Institutions and Non-Institutions held 13.03% and 24.48% respectively.
Shree Renuka Sugars has received approval to enter into binding agreements for acquisition of 100% of the equity shares of Anamika Sugar Mills (Anamika), a sugar manufacturing company located in Uttar Pradesh, India; and, subsequent infusion of up to Rs 110 crore in Anamika by way of subscription to equity shares of Anamika for the purpose of redemption of 100% of the outstanding cumulative redeemable preference shares (CRPS) issued by Anamika in favour of SICPA India.
The Board has also approved the raising of funds through issue of unsecured, non-convertible debentures by private placement. The Board of Directors of the company in its meeting held on September 23, 2023, has approved the same.
Shree Renuka Sugars is a fully integrated player focused on manufacturing and marketing of sugar, power and ethanol.
