Aditya Birla acquires 76 pc stake in Apollo Sindhoori
Diversified conglomerate Aditya Birla Nuvo said it has completed acquisition of 76 per cent stake in retail broking firm Apollo Sindhoori Capital Investments for over Rs 71 crore.
By PTI |
MUMBAI: Diversified conglomerate Aditya Birla Nuvo on Friday said it has completed the acquisition of 76 per cent stake in retail broking firm Apollo Sindhoori Capital Investments for over Rs 71 crore.
In a filing to the Bombay Stock Exchange, Aditya Birla Nuvo said pursuant to the open offer the company now holds 4.21 crore shares, representing 76 per cent stake of the company.
The company has acquired over 3.10 crore shares amounting to 56 per cent stake in Apollo Sindhoori Capital Investments for a consideration of Rs 198.8 crore by way of share purchase agreement (SPA) last year, which triggered the open offer.
Pursuant to the open offer, Aditya Birla Nuvo further acquired over 1.10 crore shares at a price of Rs 64.08 per share.
Post the open offer, Aditya Birla Nuvo now holds over 4.21 crore shares, amounting to 76 per cent stake in Apollo Sindhoori.
Earlier last year, Aditya Birla Nuvo had acquired 56 per cent stake in retail broking firm
Shares of Apollo Sindhoori closed at Rs 10.74, down 4.96 per cent, while Aditya Birla Nuvo settled for the day at Rs 357.45, down 4.88 per cent on the BSE.
In a filing to the Bombay Stock Exchange, Aditya Birla Nuvo said pursuant to the open offer the company now holds 4.21 crore shares, representing 76 per cent stake of the company.
The company has acquired over 3.10 crore shares amounting to 56 per cent stake in Apollo Sindhoori Capital Investments for a consideration of Rs 198.8 crore by way of share purchase agreement (SPA) last year, which triggered the open offer.
Pursuant to the open offer, Aditya Birla Nuvo further acquired over 1.10 crore shares at a price of Rs 64.08 per share.
Post the open offer, Aditya Birla Nuvo now holds over 4.21 crore shares, amounting to 76 per cent stake in Apollo Sindhoori.
Earlier last year, Aditya Birla Nuvo had acquired 56 per cent stake in retail broking firm
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Shares of Apollo Sindhoori closed at Rs 10.74, down 4.96 per cent, while Aditya Birla Nuvo settled for the day at Rs 357.45, down 4.88 per cent on the BSE.
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