Whirlpool of India Ltd increases stake in Elica India

The Board of Directors of Whirlpool of India Ltd. (the "Company") at their meeting held on 27 September, 2021 accorded their approval for acquisition of further 38.25% of the issued and paid up share capital of Elica PB India Private Limited ("Elica India") and accordingly the Company has executed the Share Purchase Agreement in this regard. Post completion of the acquisition, the Company would hold 87.25% shares of Elica India.

Elica India is in the business of manufacturing and trading of kitchen equipment such as kitchen hoods, hobs, built in ovens, built in refrigerators, built in microwave ovens, dishwashers, barbecue fryers, kitchen sinks, etc (the "Business"). Elica India divides its Business into two broad heads, namely, manufacturing and trading, depending on whether the products are manufactured by it or sourced by it as finished goods.

Shares of Whirlpool of India Ltd was last trading in BSE at Rs. 2237 as compared to the previous close of Rs. 2250.5. The total number of shares traded during the day was 8025 in over 1391 trades.

The stock hit an intraday high of Rs. 2273.2 and intraday low of 2227.3. The net turnover during the day was Rs. 18074198.

Source : Equity Bulls

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