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Spice Mobility moves up on receiving nod to acquire additional 10.78% stake in Spice Digital

27 Sep 2017 Evaluate

Spice Mobility is currently trading at Rs. 20.55, up by 0.05 points or 0.24% from its previous closing of Rs. 20.50 on the BSE.

The scrip opened at Rs. 20.20 and has touched a high and low of Rs. 20.75 and Rs. 20.20 respectively. So far 610 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 3 has touched a 52 week high of Rs. 33.60 on 18-Jul-2017 and a 52 week low of Rs. 13.00 on 23-Nov-2016.

Last one week high and low of the scrip stood at Rs. 22.85 and Rs. 20.00 respectively. The current market cap of the company is Rs. 468.26 crore.

The promoters holding in the company stood at 74.36%, while Non-Institutions held 25.64% stake in the company.

Spice Mobility has received an approval to acquire additional 10.78% stake in Spice Digital, a subsidiary of the company, in which the present shareholding of the company is 89.19%. Consequent to the said acquisition, the holding of the company in Spice Digital will increase to 99.97%. The Board Finance Committee of the company in its meeting held on September 26, 2017 has approved for the same.

Spice Mobility is engaged in manufacturing mobile phones. Its products include smart devices, smart phones, networking phones, feature phones and archived phones. Spice Mobility operates as a subsidiary of Spice Group.

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