NCL Industries Ltd. has executed a Share Purchase Agreement with United Spirits Ltd. for acquisition of 100% shareholding consisting of 102,676,347 equity shares of Rs. 10/- each in Tern Distilleries Private Limited (TDPL) for a total consideration of Rs. 30 Crores.
Upon acquisition of the above shares, Tern Distilleries Private Limited has become a wholly owned subsidiary of NCL Industries Ltd. NCL Industries Ltd. intends to set up a 2000 TPD cement grinding unit in the land currently owned by TDPL.
The company has clarified that it currently has no plans of entering into distilleries or related business, and the immediate plans are only for setting up a cement grinding unit.
Shares of NCL INDUSTRIES LTD. was last trading in BSE at Rs.149.4 as compared to the previous close of Rs. 150.7. The total number of shares traded during the day was 26520 in over 535 trades.
The stock hit an intraday high of Rs. 153.05 and intraday low of 145. The net turnover during the day was Rs. 3969627.
Shares of UNITED SPIRITS LTD. was last trading in BSE at Rs.624.45 as compared to the previous close of Rs. 627.9. The total number of shares traded during the day was 45401 in over 1720 trades.
The stock hit an intraday high of Rs. 643 and intraday low of 620.6. The net turnover during the day was Rs. 28724031.