Tripex Overseas to acquire a chemical company for Rs.21 Crores

Tripex Overseas Ltd has informed BSE that the Company is in process of acquiring a unit / undertaking engaged into the production of H Acid / V acid and European K. The capacity of the unit for H Acid is 80 tons p.m., V Acid 250 tons and European K 30 tons. The unit is an export unit exporting directly as well as through merchant exporters.

The acquisition cost of the unit is approximately around Rs 210/- million out of which Rs 60/- million would be deployed for Research and Development Centre.

The acquisition would be funded by an preferential allotment to promoters subject to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, at prevailing market price and residual would be by private placement of shares to investors on Preferential basis. The enhanced capital would be around Rs 95 million and resulting into Reserves of Rs 335 million.

The said acquisition would enhance the sales of the Company by Rs 1000 million and would improve the bottomline of the Company to Rs 80 million resulting into an EPS of Rs 20 on the enhanced capital of Rs 95 million.

Source : Equity Bulls

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