Oricon Enterprises increases stake in United Shippers Ltd to 98.05%

Oricon Enterprises Limited (OEL) has acquired 5,47,297 Equity Shares of United Shippers Limited (USL), a material subsidiary of the Company, at a price of Rs. 710/- per Equity Shares from the existing shareholder Logiscor Limited for total consideration of Rs. 38,85,80,870/- (Rs. Thirty Eight Crores Eighty Five Lakhs Eighty Thousand Eight Hundred Seventy Only).

Further, post Acquisition the holding of Oricon Enterprises Limited (OEL) has increased from 29,69,552 Equity Shares to 35,16,849 Equity Shares in United Shippers Limited (USL) and the percentage holding has increased from existing 82.79% to 98.05%.

Shares of Oricon Enterprises Limited was last trading in BSE at Rs. 33.75 as compared to the previous close of Rs. 34.10. The total number of shares traded during the day was 7499 in over 127 trades.

The stock hit an intraday high of Rs. 34.10 and intraday low of 33.50. The net turnover during the day was Rs. 253200.00.

Source : Equity Bulls

Keywords

OriconEnterprises INE730A01022 UnitedShippers StakeIncrease