GMM Pfaudler Ltd has executed definitive agreements for acquisition of the Industrial Mixing Solutions Division (IMSD) of Sudarshan Chemical Industries Ltd., Pune on a going concern basis.
The acquisition of IMSD would enhance GMM Pfaudler's industrial mixing business vertical by bringing in new products, technologies, customers and industry segments. The two businesses once consolidated would make GMM Pfaudler India's premier industrial mixing solutions provider.
The consideration to be paid will be Rs 290 million subject to adjustment on account of trade working capital difference, and related items.
Shares of GMM PFAUDLER LTD. was last trading in BSE at Rs.1219 as compared to the previous close of Rs. 1195.25. The total number of shares traded during the day was 611 in over 80 trades.
The stock hit an intraday high of Rs. 1230 and intraday low of 1180. The net turnover during the day was Rs. 743487.