Kansai Nerolac Paints Ltd has entered into Share Purchase Agreement (SPA) to acquire 55% of the paid-up equity share capital of RAK Paints Limited, Bangladesh as on the Closing Date (i.e. the day on which the transaction would be consummated) for a total consideration of Bangladeshi Taka (BDT) 57.26 crores (approximately INR 45.81 crores). This is subject to adjustments for borrowings, working capital and fixed assets as at the Closing Date.
Shares of KANSAI NEROLAC PAINTS LTD. was last trading in BSE at Rs.485.75 as compared to the previous close of Rs. 491.95. The total number of shares traded during the day was 2924 in over 121 trades.
The stock hit an intraday high of Rs. 490 and intraday low of 483. The net turnover during the day was Rs. 1420423.