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2025-02-10 10:47:08 am | Source: Accord Fintech
WPIL shines as its arm to acquire 55% stake in Paterson Candy International
WPIL shines as its arm to acquire 55% stake in Paterson Candy International

WPIL is currently trading at Rs. 616.00, up by 27.40 points or 4.66% from its previous closing of Rs. 588.60 on the BSE.

The scrip opened at Rs. 598.90 and has touched a high and low of Rs. 636.00 and Rs. 595.00 respectively. So far 40535 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 768.00 on 08-Jan-2025 and a 52 week low of Rs. 298.78 on 05-Mar-2024.

Last one week high and low of the scrip stood at Rs. 648.70 and Rs. 581.25 respectively. The current market cap of the company is Rs. 6036.06 crore.

The promoters holding in the company stood at 70.80%, while Institutions and Non-Institutions held 8.25% and 20.96% respectively.

WPIL’s South African subsidiary -- WPIL SA has entered into a subscription agreement to acquire 55% shareholding of Paterson Candy International (SA) (PCI Africa) based in Johannesburg, South Africa on February 7, 2025. 

Paterson Candy International is a globally recognized water and wastewater treatment process engineering and turnkey contracting company focused on the municipal, water utility and industrial sectors with origins dating back to 1870s and has a leading presence across the African continent.

PCI Africa is the market leader in water and wastewater across Africa and WPIL is proud to be a part of its evolving legacy. PCI Africa would be a huge beneficiary of the recent South African Government initiative to enhance its water infrastructure especially in the Eastern and Western Cape regions. This acquisition further strengthens and builds on WPIL’s focus on providing flow solutions especially in the highly prospective African continent along with sharing tremendous synergies with APE Pumps and their turnkey pumping business. The transaction consideration would be paid in cash and is subject to regulatory approvals and is expected to complete by first quarter FY26.

WPIL is mainly engaged into manufacturing of vertical pumps, horizontal pumps, grey iron, castings and sluice valves.

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