Arshiya surges on signing definitive agreements with Ascendas

24 Nov 2017 Evaluate

Arshiya is currently trading at Rs. 107.60, up by 1.10 points or 1.03% from its previous closing of Rs. 106.50 on the BSE.

The scrip opened at Rs. 108.00 and has touched a high and low of Rs. 111.00 and Rs. 107.00 respectively. So far 86695 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 113.65 on 23-Nov-2017 and a 52 week low of Rs. 25.00 on 24-Nov-2016.

Last one week high and low of the scrip stood at Rs. 113.65 and Rs. 85.00 respectively. The current market cap of the company is Rs. 2400.01 crore.

The promoters holding in the company stood at 74.99%, while institutions and non-institutions held 2.55% and 22.46% respectively.

Arshiya has finalised the definitive agreements on November 23, 2017 with Ascendas Property Fund (India) (Ascendas), part of the Ascendas-Singbridge Group (Asia's leading sustainable urban and business space solutions provider), for the monetisation of its six warehouses situated at the Free Trade and Warehousing Zone at Panvel, near Mumbai (Arshiya FTWZ). Additionally, the transaction also covers the terms for construction funding and forward long-terns lease of future development within the Arshiya FTWZ.

The said transaction, in the ordinary course of business, is for the monetisation of its Warehouses for a total consideration of Rs 534.0 crore (Rs 434.0 crore to be paid on transaction closing and Rs 100.0 crore to be paid over four years from transaction closing based on certain performance milestones). The proceeds shall be received post completion of ‘Conditions Precedents’ as agreed upon in the definitive agreements. The transaction will help the Arshiya group implement an asset light model.

Arshiya is engaged in providing end-to-end logistics and supply chain solutions to customers across the world.

Arshiya Share Price

6.80 -0.13 (-1.88%)
18-Apr-2024 16:01 View Price Chart
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