Thursday , October 21 2021

PI Industries surges on executing offer for acquisition of 100% stake in Isagro

PI Industries is currently trading at Rs. 1262.35, up by 20.10 points or 1.62% from its previous closing of Rs. 1242.25 on the BSE.

The scrip opened at Rs. 1245.00 and has touched a high and low of Rs. 1275.00 and Rs. 1245.00 respectively. So far 1090 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 1298.00 on 11-Sep-2019 and a 52 week low of Rs. 691.80 on 01-Oct-2018.

Last one week high and low of the scrip stood at Rs. 1298.00 and Rs. 1210.00 respectively. The current market cap of the company is Rs. 17146.86 crore.

The promoters holding in the company stood at 51.38%, while Institutions and Non-Institutions held 31.77% and 16.86% respectively.

PI Industries has executed an offer with Isagro S.p.A, a company incorporated in Italy, the promoter and existing shareholder of Isagro Asia, for acquisition of the business of Isagro Asia, who are engaged in Contract Manufacturing, local distribution and exports of agrochemicals through acquisition of 100% shareholding of Isagro Asia. The business will be acquired by PI directly or through its subsidiary.

The transaction value is estimated Rs 345 crore net of cash and debt subject to closing adjustments. The consummation of the proposed transaction is expected in Q3FY20 subject to finalisation of definitive agreements, customary closing conditions and regulatory approvals.

PI Industries is engaged in the business of- Agri inputs, Fine Chemicals and (CRAMS) Contract Research and Manufacturing Services), Polymers and Engineering Services.

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