Atul Ltd subsidiaries acquire majority stake in Osia Infrastructures Ltd

Atul Bio Space Ltd (ABSL), Atul Finserv Ltd (AFL) and Atul Fin Resources Ltd (AFRL), wholly-owned subsidiary companies of Atul Ltd ("the Company") have acquired 28,08,000 equity shares (72.94%) of Osia Infrastructures Limited (OIL), an associate company of the Company, from its other existing shareholders and consequently OIL became a step down wholly-owned subsidiary of the Company.

The Cost of acquisition is Rs. 2,67,88,320 as per the valuation report from the registered Valuer and the price paid is Rs. 9.54 per equity share of face value of Rs. 10.

OIL is engaged in processing and production of Ready Mix Concrete used for construction activities.

Shares of Atul Limited was last trading in BSE at Rs. 8824.75 as compared to the previous close of Rs. 9075.85. The total number of shares traded during the day was 1124 in over 689 trades.

The stock hit an intraday high of Rs. 9219.10 and intraday low of 8661.20. The net turnover during the day was Rs. 10087653.00.

Source : Equity Bulls

Keywords

Atul INE100A01010 Acquisition OsiaInfrastructures