Oricon Enterprises Ltd to acquire further shares in United Shippers Ltd

The Board of Directors of Oricon Enterprises Limited at their Meeting held on Monday, December 26, 2022 has considered and approved acquisition of equity shares of United Shippers Limited, a material subsidiary, by purchase of 69,896 Equity Shares from its existing shareholder(s) which would result in increase in Company's holding in United Shippers Limited from 35,16,849 Equity Shares i.e. 98.05% to 35,86,745 i.e. 100.00% and USL will become wholly-owned subsidiary.

The shares are acquired @ Rs. 790.00 per share aggregating to Rs. 5,52,17,840.

United Shippers Limited is engaged in Shipping & Logistics and Trading activities. The Company was incorporated on 11th November, 1952. The Company has presence in India and in Dubai & Sri Lanka through its subsidiaries.

Shares of Oricon Enterprises Limited was last trading in BSE at Rs. 25.90 as compared to the previous close of Rs. 23.95. The total number of shares traded during the day was 43245 in over 270 trades.

The stock hit an intraday high of Rs. 26.40 and intraday low of 24.40. The net turnover during the day was Rs. 1115825.00.

Source : Equity Bulls

Keywords

OriconEnterprises INE730A01022 StakeAcquisition Increase UnitedShippers Subsidiary