Suprajit Engineering is currently trading at Rs. 194.00, up by 4.00 points or 2.11% from its previous closing of Rs. 190.00 on the BSE.
The scrip opened at Rs. 190.00 and has touched a high and low of Rs. 195.00 and Rs. 190.00 respectively. So far 1,930 shares were traded on the counter.
The BSE group 'B ' stock of face value Rs. 1 has touched a 52 week high of Rs. 217.00 on 28-Jun-2016 and a 52 week low of Rs. 121.70 on 18-Jan-2016.
Last one week high and low of the scrip stood at Rs. 200.00 and Rs. 189.10 respectively. The current market cap of the company is Rs. 2,547.97 crore.
The promoters holding in the company stood at 47.37%, while Institutions and Non-Institutions held 15.54% and 37.10% respectively.
Suprajit Engineering has successfully completed acquisition of Wescon Controls, Wichita, USA, through its wholly owned subsidiary Suprajit USA Inc, by purchasing 100% outstanding equity share capital from Shell Topco LP managed by a Private Equity Fund - Nova Capital, UK.This transaction was funded by Suprajit’s cash balances and debt in an approximate ratio of 50:50. The Enterprise Value of Wescon was estimated at $44.4 million.
Wescon Controls is a market leading manufacturer of control cables in the non-automotive Outdoor Power Equipment (OPE) space. It has marquee customers like MTD, Husqvarna, John Deere, TORO, Honda, etc., and is the largest manufacturer of OPE cables in North America.
With expected sales of $40 million and EBIDTA margin in the range of 16-18%, Wescon has its plant in Wichita, Kansas, USA and a Maquiladora facility in Juarez, Mexico. Wescon has been manufacturing cables since 1946. It has a strong management and engineering team with a leading market position in the North American non-automotive cable space.
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