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Pennar Industries shines on getting nod to merge PEBS Pennar, Pennar Enviro with itself

Pennar Industries Ltd. | Steel & Iron Products | Metals & Mining | BSE: 513228 | NSE: PENIND

17 May 2019 Evaluate

Pennar Industries is currently trading at Rs. 32.00, up by 0.55 points or 1.75% from its previous closing of Rs. 31.45 on the BSE.

The scrip opened at Rs. 31.05 and has touched a high and low of Rs. 32.30 and Rs. 31.05 respectively. So far 4019 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 58.60 on 21-May-2018 and a 52 week low of Rs. 29.80 on 18-Feb-2019.

Last one week high and low of the scrip stood at Rs. 33.85 and Rs. 30.90 respectively. The current market cap of the company is Rs. 388.73 crore.

The promoters holding in the company stood at 36.41%, while Institutions and Non-Institutions held 20.02% and 43.57% respectively.

Pennar Industries (PIL) has received approval from National Company Law Tribunal (NCLT) to merge its subsidiaries Pennar Engineered Building Systems (PEBS Pennar) and Pennar Enviro (PEL) with itself.

As per the approved scheme, shareholders of PEBS Pennar will get 23 shares of Pennar Industries for 13 shares held and shareholders of Pennar Enviro will get one share of Pennar Industries for every one share held.

The merger is expected to create a leaner group structure, result in better synergies and optimisation of costs and improved fund utilisation. It will also result in PIL having a better capital structure, pooled resources and synchronised growth plans. This will eventually lead to focused growth, higher profitability and shareholder value creation.

Pennar Industries is one of India’s leading industrial organizations offering specialized, engineering steel solutions. The company is a multi-location, multi-product company manufacturing cold rolled steel strips & tubes, cold rolled formed sections, electrostatic precipitators, pre-engineered building systems, sheet metal components and road safety systems.

Pennar Industries Share Price

175.30 1.80 (1.04%)

17-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
Tata Steel	212.05
JSW Steel	1239.90
SAIL	173.50
Jindal Stainless	787.90
APL Apollo Tubes	2105.45
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Pennar Industries shines on getting nod to merge PEBS Pennar, Pennar Enviro with itself

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