Paul Merchants is locked at upper circuit limit at Rs. 5129.65, up by 466.30 points or 10.00% from its previous closing of Rs. 4663.35 on the BSE.
The scrip opened at Rs. 4757.00 and has touched a high and low of Rs. 5129.65 and Rs. 4750.00 respectively.
The BSE group 'XD' stock of face value Rs. 10 has touched a 52 week high of Rs. 5147.00 on 04-Nov-2016 and a 52 week low of Rs. 3031.00 on 22-Nov-2016.
Last one week high and low of the scrip stood at Rs. 5129.65 and Rs. 4079.00 respectively. The current market cap of the company is Rs. 527.33 crore.
The promoters holding in the company stood at 66.37%, while public holding stood at 33.63%.
Paul Merchants has received an approval for slump sale of its MTSS Business in India to You First Money Express (YMEPL), having its office at Andheri East, Mumbai, subject to approval of the shareholders, and other approvals. The Audit committee & Board of Directors of the company at its meeting held on September 21, 2017 has approved for the same.
YMEPL is proposed to be part of the Ebix group as YMEPL will acquire the MTSS business of the Company after Ebix Software India, completes acquiring 100% shareholding in YMEPL. This sale is for a lump sum consideration, without values being assigned to the individual assets and liabilities.
The board also approved the acquisition of 10% of the paid up equity share cap of You First Money Express on post dilution basis, immediately post closing of slump sale of company’s MTSS business to YMEPL.
Paul Merchants (PML) is engaged in international inward remittance, foreign exchange and tours, and travels and air ticketing. The company’s segments include Forex, Western Union, Travel and Others.
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