Supreme Industries rises on signing MoU with Wavin Industries
Supreme Industries is currently trading at Rs. 3347.00, up by 30.80 points or 0.93% from its previous closing of Rs. 3316.20 on the BSE.
The scrip opened at Rs. 3350.00 and has touched a high and low of Rs. 3350.00 and Rs. 3297.40 respectively. So far 743 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 6482.40 on 12-Jun-2024 and a 52 week low of Rs. 3286.25 on 03-Mar-2025.
Last one week high and low of the scrip stood at Rs. 3477.65 and Rs. 3297.40 respectively. The current market cap of the company is Rs. 41893.46 crore.
The promoters holding in the company stood at 48.85%, while Institutions and Non-Institutions held 36.66% and 14.50% respectively.
Supreme Industries has signed a Memorandum of understanding (MoU) with Wavin Industries for acquisition of its Indian Piping (Building and Infrastructure) business, at its manufacturing units situated at Banmore (M.P.). Hyderabad (Telangana) and Neemrana (Rajasthan) - either on Slump Sale or Share acquisition basis comprising of all tangible fixed assets, tools, moulds & dies, spare parts, all intangible fixed assets including trademarks & Intellectual property rights, all licences. approvals & permissions. contract for power & other utilities, all material contracts, orders, rate contracts in hand and employees.
Simultaneous to above acquisition, the company will have exclusive access to all existing technologies from ‘Wavin B.V.’--Netherlands (Parent Company) and other new technologies to be developed during a period of 7 years for India and SAARC Countries. The deal is valued at $30 million plus net working capital. The transaction is expected to be completed by June 30, 2025.
Supreme Industries is India's leading plastic processing company with seven business divisions. The company has forayed into different types of plastic processing in Injection Moulding, Rotational Moulding (ROTO), Extrusion, Compression Moulding, Blow Moulding etc.
