Saturday , October 16 2021

HLE Glascoat trades jubilantly on signing definitive agreements to acquire global business of Thaletec GmbH

HLE Glascoat is currently trading at Rs. 6086.05, up by 905.75 points or 17.48% from its previous closing of Rs. 5180.30 on the BSE.

The scrip opened at Rs. 5240.00 and has touched a high and low of Rs. 6163.90 and Rs. 5240.00 respectively. So far 15847 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 5225.00 on 16-Sep-2021 and a 52 week low of Rs. 1287.00 on 15-Oct-2020.

Last one week high and low of the scrip stood at Rs. 5225.00 and Rs. 4560.30 respectively. The current market cap of the company is Rs. 8031.49 crore.

The promoters holding in the company stood at 71.32%, while Institutions and Non-Institutions held 3.93% and 24.74% respectively.

HLE Glascoat has signed definitive agreements to acquire the global business of Thaletec GmbH, Germany as well as its subsidiary Thaletec USA, as a part of its strategy to strengthen its position further in the global markets with innovative technology. As a part of the deal, both companies have mutually agreed that Thaletec will continue to have its distinct brand identity and remain a separate business entity post the acquisition.

The current promoters have agreed to divest their entire stake in Thaletec in an all cash transaction to HLE Glascoat. The acquisition will see the transfer of business, key technology and rich global experience garnered by Thaletec over the last two decades. Pursuant to the acquisition, Thaletec will become a wholly owned subsidiary of HLE Glascoat with the entire business of Thaletec being consolidated into the company. The acquisition is in line with the company strategy to expand its footprint globally and reinforces its position as a market leader in manufacturing innovative and specialized process equipment, customized solutions and systems.

HLE Glascoat is a leading manufacturer of process equipment for the chemical and pharmaceutical industries.

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