Sumitomo Chemical India Ltd lists in BSE, NSE

The Board of Directors of Excel Crop Care Limited ("ECC"), whose equity shares were listed on the National Stock Exchange of India Limited and the BSE Limited, and Sumitomo Chemical India Private Limited ("Sumitomo Chemical India"), both being Group companies of Sumitomo Chemical merged to form Sumitomo Chemical India Limited ("Sumitomo Chemical") which is the surviving company.

The merged Sumitomo Chemical India has listed its equity shares listed on the National Stock Exchange of India Limited and the BSE Limited post completion of the merger today.

Pre merger, the shares of ECC was last traded at Rs. 3188.25. On merger, Sumitomo Chemical issued 51 shares for every 2 shares held in ECC. This gave a value of Rs. 125.02 per share of Sumitomo Chemical.

2 shares of ECC * 3188.25 = 6376.5

Per share value of Sumitomo Chemical = 6376.5/51 = Rs. 125.029

In pre-open, the indicative price of per share of Sumitomo Chemical is Rs. 160.

At 9:30, the indicative price was Rs. 198 in BSE with a market cap of Rs. 9883.09 crores. The pre-merger market cap of ECC was Rs. 3508.87 crore (market price of Rs. 3188.25 per share.

Source : Equity Bulls

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