Videocon Inds gains on subsidiary plans of raising $300 million via stake sale

06 Jan 2015

Videocon Industries is currently trading at Rs. 162.85, up by 1.25 points or 0.77% from its previous closing of Rs. 161.60 on the BSE.

The scrip opened at Rs. 167.00 and has touched a high and low of Rs. 168.90 and Rs. 162.35 respectively. So far 89150 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 211.05 on 10-Jun-2014 and a 52 week low of Rs. 154.95 on 16-Dec-2014.

Last one week high and low of the scrip stood at Rs. 164.55 and Rs. 159.00 respectively. The current market cap of the company is Rs. 5506.87 crore.

The promoters holding in the company stood at 65.60% while Institutions and Non-Institutions held 11.05 % and 11.04 % respectively.

Videocon Industries’ arm Videocon d2h, direct-to-home service provider, will raise $300 million by selling a minority stake to Nasdaq-listed Silver Eagle Acquisition Corporation (SEAC) and its shareholders. The company will also get listed on the Nasdaq Stock Exchange.

Videocon d2h was valued at $1.2 billion and SEAC and its shareholders would invest around $300 million for the minority stake.

Based in Mumbai, Videocon d2h is part of the Venugopal Dhoot-led $10-billion Videocon Group, which has interests in diverse areas such as consumer electronics, oil and gas, power, retail and insurance.

Related Videocon Industries Ltd. Links:

Videocon Inds. Share Price

3.80 -0.06 (-1.55%) May 07, 10:01
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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