Crompton Greaves and PE fund Everstone Capital have submitted bidding offers, followed by negotiation talks. In the competition to acquire stakes, the Company has offered Rs 1400 crore while Everstone Capital offered Rs 1300 Crore. The talks of acquisition have been going on for almost a year, and have seen proposals from suitors such as Orient Electric, Symphony, Havells, and Voltas among others.
Crompton Greaves Consumer Electrical Ltd is currently trading at Rs 221.6, up by Rs 5.9 or 2.74% from its previous closing of Rs 215.7 on the BSE. The scrip opened at Rs 218.5 and has touched a high and low of Rs 222.15 and Rs 218.5 respectively. Last one week high and low of the scrip stood at Rs 220 and Rs 207.35 respectively. The stock is currently trading above its 100 DMA.
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