ESAB India Limited updates on parent company's announcement

ESAB India Limited's shareholding includes 73.72% of the equity shares being held by the promoter Companies viz ESAB Holdings Limited, UK holding 37.31% and Exelvia Group India, BV, The Netherlands holding 36.41 % of the equity shares of the Company.

Colfax UK, Holdings Limited indirectly holds 100% equity shares of ESAB Holdings Limited and Exelvia Group India BV. Colfax Corporation, USA indirectly holds 100% of the equity shares of Colfax, UK Holdings Limited.

Colfax Corporation, USA on 4 March, 2021 announced to the New York Stock Exchange that they intend to build on strategic momentum by separating into two Independent and publicly traded companies - one business will focus on fabrication technologies i.e. ESAB and the other on specially medical technologies Le MedTech Co., and DJO.

The targeted separation is expected to be completed by first quarter of 2022. ESAB will continue to focus on the industrial / welding sector with the highest quality, standards and ethics and launch exciting new products as well as increase capability in digital analytics, robotics and gas control.

Though this announcement does not in any way impact ESAB India Limited and its shareholders or its shareholding pattern we thought we will bring this specific announcement made by our Ultimate Parent Company to the attention of the stock exchange, Colfax Corporation is also planning to inform customers and the suppliers in India about this announcement in the coming days.

Shares of ESAB INDIA LTD. was last trading in BSE at Rs.1809.3 as compared to the previous close of Rs. 1805.9. The total number of shares traded during the day was 744 in over 257 trades.

The stock hit an intraday high of Rs. 1814.4 and intraday low of 1775.65. The net turnover during the day was Rs. 1335304.

Source : Equity Bulls

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