Oricon Enterprises increases stake in United Shippers to 98.05%

29 Apr 2022 , 11:02 AM

Oricon Enterprises Limited (OEL) has acquired 5,47,297 Equity Shares of United Shippers Limited (USL), a material subsidiary of the Company, at a price of Rs. 710/- per Equity Shares from the existing shareholder Logiscor Limited for total consideration of Rs38,85,80,870/-.

Further, post Acquisition the holding of Oricon Enterprises Limited (OEL) has increased from 29,69,552 Equity Shares to 35,16,849 Equity Shares in United Shippers Limited (USL) and the percentage holding has increased from existing 82.79% to 98.05%.

At around 11:04 AM, Oricon Enterprises was trading at Rs33.25 apiece down by Rs0.1 or 0.3% from its previous closing of Rs33.35 apiece on the BSE.