Borosil Limited increases stake in Klass Pack Ltd to 82.49%

Klass Pack Limited (Klass Pack), a Subsidiary Company, has today allotted 2,36,211 equity shares of face value of Rs 100/- each at a premium of Rs. 746.70 per equity share for cash for the total consideration of Rs. 19,99,99,853.70, to the Company. Pursuant to this, the holding of the Company in Klass Pack has increased from 79.53% to 82.49% of equity share capital of Klass Pack.

Klass Pack will utilize these funds for expansion of its production capacity for its existing products.

Klass Pack, incorporated on May 29, 1991 is engaged in the manufacturing and supply of pharmaceutical vials and ampoules to the pharmaceutical industry for many years and has its manufacturing facilities at Nashik, Maharashtra.

Klass Pack exports its products to countries namely USA, Romania, Italy, Saudi Arabia, Bangladesh, Turkey, etc.

Shares of Borosil Limited was last trading in BSE at Rs. 417.05 as compared to the previous close of Rs. 423.35. The total number of shares traded during the day was 54741 in over 2668 trades.

The stock hit an intraday high of Rs. 429.50 and intraday low of 406.00. The net turnover during the day was Rs. 23141365.00.

Source : Equity Bulls

Keywords

Borosil INE02PY01013 KlassPack StakeIncrease