Redington India soars as its arm hikes stake in Linkplus to 80%

19 May 2016 Evaluate

Redington (India) is currently trading at Rs.113.10, up by 2.90 points or 2.63% from its previous closing of Rs. 110.20 on the BSE.

The scrip opened at Rs. 112.55 and has touched a high and low of Rs. 115.70 and Rs. 112.20 respectively. So far 10886 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 132.00 on 24-Sep-2015 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. 117.00 and Rs. 105.35 respectively. The current market cap of the company is Rs. 4517.89 crore.

The promoters holding in the company stood at 13.33% while Institutions and Non-Institutions held 58.64% and 28.03% respectively.

Redington Gulf FZE (RGF), a step down subsidiary of Redington (India) has acquired additional 10% stake in Linkplus Bilgisayar Sistemleri Sanayi ve Ticaret A.S, Turkey (Linkplus) for a consideration of $1.15 million. Consequently, the total stake of RGF in Linkplus is 80%.

The balance 20% shares will be purchased on equitable basis during CY16 and CY17 at a P/E multiple of 5X. Last year in November, RGF has entered into a definitive agreement to acquire 70% stake in Linkplus.

Redington is one amongst the top supply chain solution providers worldwide to over 100 leading manufacturers of Information Technology, Telecom, Lifestyle and Consumer Electronics Products.

Redington Share Price

185.30 5.20 (2.89%)
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