TVS Holdings gains on inking pact to purchase additional stake in EHRL
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TVS Holdings is currently trading at Rs. 9101.00, up by 113.75 points or 1.27% from its previous closing of Rs. 8987.25 on the BSE.
The scrip opened at Rs. 9099.00 and has touched a high and low of Rs. 9185.95 and Rs. 9046.10 respectively.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 9685.00 on 02-Mar-2024 and a 52 week low of Rs. 3,222.01 on 08-May-2023.
Last one week high and low of the scrip stood at Rs. 9216.35 and Rs. 8408.00 respectively. The current market cap of the company is Rs. 18512.38 crore.
The promoters holding in the company stood at 74.45%, while Institutions and Non-Institutions held 13.51% and 12.04% respectively.
TVS Holdings has entered into a Share Purchase Agreement (SPA) dated May 2, 2024 with Sandwood Investments (Sandwood) and Emerald Haven Realty (EHRL) for purchase of additional stake of 10.74% in EHRL, by way of purchase of 2,74,43,333 equity shares of Rs 10 each from Sandwood.
Consequent to the above, the shareholding of the Company in EHRL will increase from 89.26% to 100%, thereby making it a wholly owned subsidiary of the Company. EHRL presents great diversification potential which has been conceptualized by the company and hence this additional investment is made.
TVS Holdings (Formerly known as Sundaram-Clayton) manufactures non-ferrous gravity and pressure die castings.
