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Manappuram Finance Ltd to acquire 100% in Manappuram Comptech & Consultants Ltd

Posted On: 2019-03-21 14:20:34

The Board of Directors of Manappuram Finance Ltd at their meeting dated 20.03.2019 accorded their approval for acquiring 100% equity shares of Manappuram Comptech & Consultants Ltd (MACOM) and to make it a wholly owned subsidiary company of the Company.

The cash consideration of Rs.98,64,990/- will be paid for 100% shareholding consisting of 27000 equity shares of Rs.100 each at a price of Rs.365.37 per (share premium Rs. 265.37 share).

MACOM is operating as IT (software and hardware) company and other consultancy services is a group company of Manappuram Finance. It was set up by its present director and promoter Mr. V P Nandakumar.

Shares of MANAPPURAM FINANCE LTD. was last trading in BSE at Rs.124.05 as compared to the previous close of Rs. 123.25. The total number of shares traded during the day was 171233 in over 1646 trades.

The stock hit an intraday high of Rs. 124.4 and intraday low of 121.05. The net turnover during the day was Rs. 21040481.


Source: Equity Bulls

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