Crompton Greaves completes acquisition of 55% stake in Butterfly Gandhimathi; stock skids 1%

28 Mar 2022 , 10:01 AM

Crompton Greaves Consumer Electrical Limited’s counter fell 1% in today’s trade as the company completed its acquisition of the stake in Butterfly Gandhimati Appliances Limited.

Earlier in February, Crompton has informed the investors of the execution of a share purchase agreement with certain members of the promoter and promoter group of Butterfly Gandhimati.

In its recent regulatory filing, the company has informed that it has acquired 98,33, 754 equity shares representing 55.00% of the equity share capital of Butterfly Gandhimati through the stock exchange settlement process.

Crompton Greaves’ stock was trading at Rs369.95, down by 1.16% against its previous closing price of Rs374.30 on BSE. It touched an intraday high and low of Rs380 and Rs368.95 respectively.