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Uniply Industries trades higher on the bourses

Uniply Industries is currently trading at Rs. 66.50, up by 3.10 points or 4.89% from its previous closing of Rs. 63.40 on the BSE.

The scrip opened at Rs. 66.50 and has touched a high and low of Rs. 66.50 and Rs. 65.15 respectively. So far 289006 shares were traded on the counter.

The BSE group ‘T’ stock of face value Rs. 2 has touched a 52 week high of Rs. 80.50 on 05-Jul-2018 and a 52 week low of Rs. 30.05 on 02-May-2019.

Last one week high and low of the scrip stood at Rs. 66.50 and Rs. 59.25 respectively. The current market cap of the company is Rs. 1090.41 crore.

The promoters holding in the company stood at 26.29%, while Institutions and Non-Institutions held 8.30% and 65.42% respectively.

Uniply Industries has inked an agreement with Kuwait-based Markab Capital WLL, under which the latter would acquire a controlling stake in the company. The deal values Uniply Industries at an enterprise value of over Rs 1,550 crore on a fully diluted basis.

Markab Capital WLL, Kuwait and its wholly-owned Indian subsidiary Markab India SPV will acquire 20.7% stake shareholding from Uniply Industries chairman Keshav Kantamneni and his group entities at Rs 82 a share.

The transaction aims at leveraging the deep global relationships of Markab Capital and create a long-term value for shareholders by bringing value and global contracts into the execution fold of the incumbent teams at Uniply Industries.

Uniply Industries is engaged in the manufacture of plywood and other panel products.

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