JK Maxx Paints Ltd acquires balance stake in Acro Paints Ltd

JK Maxx Paints Ltd (erstwhile JK Paints and Coatings Limited), wholly owned subsidiary of the Company, has at third tranche invested an amount of INR 53,31,00,000 Crores (Rupees Fifty three crores thirty one lakhs Only) towards the acquisition of balance 20% equity shares of Acro Paints Ltd. (APL) (CIN: U24119DL1989PLC036308).

Consequent upon the present acquisition, JK Maxx Paints Ltd has acquired 100% equity share capital of APL, Accordingly APL has become wholly owned subsidiary of JK Maxx Paints Ltd with immediate effect.

The acquisition facilitated commercial presence of the Company in the Paint & construction chemicals business segment.

Shares of JK Cement Limited was last trading in BSE at Rs. 3928.25 as compared to the previous close of Rs. 3901.05. The total number of shares traded during the day was 2436 in over 812 trades.

The stock hit an intraday high of Rs. 3946.15 and intraday low of 3896.95. The net turnover during the day was Rs. 9554068.00.

Source : Equity Bulls

Keywords

JKCement INE823G01014 JKMaxxPaints StakeIncrease ArcoPaints