iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

SBI Life Insurance's Stake Boosts Safari Industries Stock

6 Sep 2023 , 11:50 AM

SBI Life Insurance acquires a stake in Safari Industries, boosting the luggage maker’s stock. Safari Industries’ stock opened nearly 1 % higher on the NSE on September 6. SBI Life Insurance purchases 2.05 lakh shares of Safari Industries through open market transactions.

The insurance company pays an average price of Rs 3,775 per share, totaling Rs 77.38 crore. Investcorp Private Equity Fund II sells 2.14 lakh shares in Safari Industries at an average price of Rs 3,775.06 per share.

Investcorp previously held a 1.22 % stake or 2.88 lakh shares in Safari. Safari Industries reports robust Q1 FY24 performance, with an 88 % YoY increase in consolidated net profit to Rs 49.94 crore.

Total revenue for the quarter surged 46 % on-year to Rs 426.68 crore. Earnings before interest, tax, depreciation, and amortization (EBITDA) also grew by 18.5 % to Rs 79 crore for the same period.

For feedback and suggestions, write to us at editorial@iifl.com
 

Related Tags

  • India
  • news
  • Safari Industries
  • sbi
  • stake
  • stocks
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.