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Suprajit Engineering shines on plan to acquire majority stake in Phoenix Lamps

06 May 2015 Evaluate

Suprajit Engineering is currently trading at Rs. 123.00, up by 2.40 points or 1.99% from its previous closing of Rs. 120.60 on the BSE.

The scrip opened at Rs. 120.60 and has touched a high and low of Rs. 126.70 and Rs. 118.90 respectively. So far 1940 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 1 has touched a 52 week high of Rs. 170.15 on 21-Jan-2015 and a 52 week low of Rs. 71.35 on 07-May-2014.

Last one week high and low of the scrip stood at Rs. 126.70 and Rs. 113.20 respectively. The current market cap of the company is Rs. 1449.84 crore.

The promoters holding in the company stood at 51.84% while Institutions and Non-Institutions held 6.76% and 41.40% respectively.

Suprajit Engineering has received an approval for acquiring 51% to 61.88% in equity capital of Phoenix Lamps, from ARGON INDIA, Mauritius & ARGON SOUTH ASIA, Mauritius at an agreed price of Rs 89 per share of Rs 10 each and signed a Share Purchase Agreement on May 06, 2015. The board of directors at their meeting held on May 06, 2015 has approved for the same.

The board also approved for open offer to acquire 72,85,018 shares of Rs 10 each aggregating to 26% of the equity capital of the company, at Rs 100 per share. It has approved appointment of Karvy Investor Services, Category I Merchant Banker, to manage the open offer.

Phoenix Lamps is the largest manufacturer of Automotive Lamps in India and caters to Indian OEMs, After Market and European Aftermarket segment.

Suprajit Engineering is committed to being a world class organization, supplying cables and components to overseas and domestic customers in automobile and non-automobile sectors.

 

Suprajit Engineering Share Price

425.00 14.45 (3.52%)
17-Apr-2026 16:59 View Price Chart
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