UV Boards will fund the acquisition through the issuance of shares worth Rs 111 crore to Uniply and a cash consideration.
The UV Boards will pay Rs 42 crore for the purchase of Uniply’s Gujarat facility. The trademark of Uniply will be licensed to UV Boards for a total fee of Rs 75 crore to be paid equally over 10 years, in advance at the start of the year.
This transaction has resulted in a fully deleveraging the balance sheet of Uniply by repaying all long term debt outstanding of the company and its subsidiaries Vector projects to the tune of Rs 145 crore.
As a result of the transaction, Uniply’s stake in UV boards will increase to 37.11% and the company will have the right to nominate four members to the board of directors.
Uniply Industries Ltd ended at Rs 272.55, up by Rs 15.3 or 5.95% from its previous closing of Rs 257.25 on the BSE.
The scrip opened at Rs 251.5 and touched a high and low of Rs 274.8 and Rs 249.4 respectively. A total of 68310(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 651.59 crore.
The BSE group 'B' stock of face value Rs 10 touched a 52 week high of Rs 390 on 12-Jun-2017 and a 52 week low of Rs 170.1 on 12-Aug-2016. Last one week high and low of the scrip stood at Rs 310 and Rs 249.4 respectively.
The promoters holding in the company stood at 33.23 % while Institutions and Non-Institutions held 2.14 % and 64.63 % respectively.
The stock traded below its 100 DMA.
Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.
- Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
- Now Save Rs.3150 on your Demat Account ...Click here
- Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
- Get the most detailed result analysis on the web - Real Fast!
- Actionable & Award-Winning Research on 500 Listed Indian Companies.