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Advanta shines on getting nod to merge with UPL

23 Nov 2015 Evaluate

Advanta is currently trading at Rs. 492.95, up by 16.80 points or 3.53% from its previous closing of Rs. 476.15 on the BSE.

The scrip opened at Rs. 485.00 and has touched a high and low of Rs. 532.85 and Rs. 485.00 respectively. So far 87332 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 634.00 on 12-Oct-2015 and a 52 week low of Rs. 328.00 on 29-Jan-2015.

Last one week high and low of the scrip stood at Rs. 532.85 and Rs. 453.40 respectively. The current market cap of the company is Rs. 4963.63 crore.

The promoters holding in the company stood at 59.51% while Institutions and Non-Institutions held 17.23% and 7.46% respectively.

Advanta has received its board approval for the proposal of the amalgamation of the company with UPL, subject to regulatory approval. Advanta shareholders will get one equity share and three preference shares of UPL for every share held in the company on the record date.

The merger will enhance presence across agri-inputs value chain, increase geographical reach, enhance market penetration and annual cost savings of Rs 90 crore envisaged.

Advanta benefits from the strong global distribution network of UPL and will be able to fast track its growth plans on the back of strong balance sheet of the combined entity.

Advanta is engaged in providing crop solution for crops like rice, sunflower, maize, millets and mustard. It has research and development centres are located in Bangalore, Hyderabad, Vapi, Sonepat and Katraine.

 

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