Texmo Pipes & Products surges on acquiring 51% of equity share capital of Shree Venkatesh Industries
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Texmo Pipes & Products is currently trading at Rs. 78.38, up by 2.54 points or 3.35% from its previous closing of Rs. 75.84 on the BSE.
The scrip opened at Rs. 76.05 and has touched a high and low of Rs. 78.90 and Rs. 76.05 respectively. So far 7763 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 108.00 on 19-Feb-2024 and a 52 week low of Rs. 41.00 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 81.39 and Rs. 73.01 respectively. The current market cap of the company is Rs. 226.23 crore.
The promoters holding in the company stood at 44.24%, while Institutions and Non-Institutions held 0.60% and 55.16% respectively.
Texmo Pipes & Products has subscribed and acquired 51% of equity share capital of Shree Venkatesh Industries. The Company promotes the said Company resulting in working of operations of the said Company’s business i.e. Manufacturing and trading of Plastic Products, Pipes, Tanks and Fittings and other allied services and products.
Pursuant to the aforesaid transaction, the Company holds 51% of the total Equity Share Capital of the aforesaid Company, thereby becomes the Subsidiary Company of Company. The cost of acquisition i.e. 10,409 Equity Shares of Shree Venkatesh Industries is Rs 20.60 crore at the rate of Rs 19,800 each including premium.
Texmo Pipes & Products is engaged into manufacturing of range of PVC and HDPE pipes viz. suction and delivery hose pipe etc.
