ABG Shipyard surges over 11% on stake sale reports
The promoters of ABG Shipyard will continue to hold minimum 26 per cent stake.
By ET Online |
MUMBAI: Shares of ABG Shipyard surged 11.62 per cent in early trade after ET Now reported the company was in talks with Germany-based Privinvest to sell stake.
The stock ended day 13.65 points up at Rs 180.90.
Privinvest is likely to infuse nearly Rs 1,000 crore to buy 25 per cent stake in ABG Shipyard via fresh equity issuance, sources told Nisha Poddar of ET Now. Privinvest is interested in buying 49 per cent stake in ABG Shipyard.
The promoters of ABG Shipyard will continue to hold minimum 26 per cent stake.
According to sources, ABG Shipyard and Privinvest entered exclusive deal talks in May.
ABG Shipyard did not offer comment on ET NOW's query.
The stock ended day 13.65 points up at Rs 180.90.
Privinvest is likely to infuse nearly Rs 1,000 crore to buy 25 per cent stake in ABG Shipyard via fresh equity issuance, sources told Nisha Poddar of ET Now. Privinvest is interested in buying 49 per cent stake in ABG Shipyard.
The promoters of ABG Shipyard will continue to hold minimum 26 per cent stake.
According to sources, ABG Shipyard and Privinvest entered exclusive deal talks in May.
ABG Shipyard did not offer comment on ET NOW's query.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
Related Articles
Top 10 wilful defaulters owe Rs 40,635 crore to banks, ABG Shipyard leadsADVERTISEMENT
