Minda Corporation Ltd acquires 15.70406% stake in Pricol Ltd

Minda Corporation Limited ("Company") on 17th February, 2023, has acquired 1,91,40,342 Equity Shares of Pricol Limited (Pricol) representing 15.70406 % of the Pricol's total issued and paid-up equity share capital.

Pricol Limited is in the automotive components and products/equipments business and is listed on the BSE Limited and the National Stock Exchange of India Limited. Basis the audited financial statements of Pricol Limited for the year ended March 31, 2022, the consolidated turnover was INR 1553.5 Crores.

This is merely a financial investment without providing the Company any special rights in Pricol Limited other than the rights as a shareholder of Pricol Limited.

The average acquisition price is INR 208.9820 per share aggregating to INR 400 Crores.

Shares of Minda Corporation Limited was last trading in BSE at Rs. 213.90 as compared to the previous close of Rs. 211.30. The total number of shares traded during the day was 20487 in over 585 trades.

The stock hit an intraday high of Rs. 214.25 and intraday low of 209.25. The net turnover during the day was Rs. 4319132.00.

Shares of Pricol Limited was last trading in BSE at Rs. 208.30 as compared to the previous close of Rs. 205.25. The total number of shares traded during the day was 94921 in over 2478 trades.

The stock hit an intraday high of Rs. 212.60 and intraday low of 204.15. The net turnover during the day was Rs. 19796185.00.

Source : Equity Bulls

Keywords

MindaCorporation INE842C01021 Pricol INE726V01018 StakeAcquisition OpenMarketPurchase