PG Technoplast Pvt Ltd to acquire Next Generation Manufacturers Pvt Ltd

PG Technoplast Private Limited ("PGTL") [Wholly Owned Subsidiary of the Company - PG Electroplast limited ("PGEL")] on February 10, 2024 have entered into a 'Definitive Agreement' to acquire 100% stake in Next Generation Manufacturers Private Limited ("NGM").

Pursuant to the said acquisition, NGM will become a Wholly Owned Subsidiary of PGTL.

PGTL will acquire 10,000 equity shares of NGM at a face value of Rs. 10/- (Rupees Ten only) each aggregating to Rs. 1,00,000/- (Rupees One Lakh only) and 1,50,000 0% Compulsorily Convertible Debentures at face value of Rs. 1,000/- (Rupees One Thousand only) aggregating to Rs. 15,00,00,000/- (Rupees Fifteen Crores only).

NGM is domiciled in Maharashtra, India and is incorporated on November 04, 2019 under the provisions of the Companies Act, 2013. The Company is engaged in the business of manufacturing consumer durable products / home appliances viz. Air Conditioners and Televisions. The Company commenced its commercial production with effect from February 03, 2023.

Shares of PG Electroplast Limited was last trading in BSE at Rs. 2000.70 as compared to the previous close of Rs. 1990.95. The total number of shares traded during the day was 3786 in over 707 trades.

The stock hit an intraday high of Rs. 2035.75 and intraday low of 1954.70. The net turnover during the day was Rs. 7522489.00.

Source : Equity Bulls

Keywords

PGElectroplast INE457L01011 PGTechnoplast Agreement Acquisition NextGenerationManufacturers