Redington trades jubilantly as its arm plan to acquire 70% stake in Linkplus

07 Oct 2015

Redington (India) is currently trading at Rs. 121.45, up by 6.80 points or 5.93% from its previous closing of Rs. 114.65 on the BSE.

The scrip opened at Rs. 115.40 and has touched a high and low of Rs. 126.60 and Rs. 114.55 respectively. So far 119886 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 147.65 on 05-Dec-2014 and a 52 week low of Rs. 91.20 on 19-Jun-2015.

Last one week high and low of the scrip stood at Rs. 126.60 and Rs. 109.30 respectively. The current market cap of the company is Rs. 4597.67 crore.

The promoters holding in the company stood at 13.33% while Institutions and Non-Institutions held 52.36% and 34.31% respectively.

Redington Gulf FZE, a step down subsidiary of Redington (India) has entered into a definitive agreement to acquire 70% of Linkplus Bilgisayar Sistemleri Sanayi ve Ticaret A.S, Turkey (Linkplus). This proposed acquisition is subject to regulatory approvals of authorities in Turkey. Established in 1995, Linkplus is a leading ORACLE Distributor in Turkey. The balance 30% will be acquired over a 3 year period. The Company has been valued around 6X future earnings.

Redington (India) is engaged in the business of vendor-authorized end-to-end supply chain management of information technology (IT) hardware and software products. The company distributes a range of IT products, such as networking, storage, and enterprise products, as well as servers and software solutions.


Related Redington (India) Ltd. Links:

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