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Essel Propack gains as CCI gives nod for Epsilon Bidco’s proposal to buy 75% holding in company

06 Jun 2019 Evaluate

Essel Propack is currently trading at Rs. 130.60, up by 0.35 points or 0.27% from its previous closing of Rs. 130.25 on the BSE.

The scrip opened at Rs. 131.15 and has touched a high and low of Rs. 131.15 and Rs. 130.60 respectively.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 138.00 on 26-Apr-2019 and a 52 week low of Rs. 85.00 on 25-Oct-2018.

Last one week high and low of the scrip stood at Rs. 131.90 and Rs. 129.00 respectively. The current market cap of the company is Rs. 4117.08 crore.

The promoters holding in the company stood at 57.03%, while Institutions and Non-Institutions held 20.11% and 22.86% respectively.

The Competition Commission of India (CCI) has approved Epsilon Bidco’s proposal to buy 75% holding in Essel Propack. The company had in April announced a Rs 3,211 crore deal to raise money by selling out to buyout major Blackstone.

Essel Propack is a flagship company of the Essel group is a producer of plastic packaging material in the form of multilayer collapsible tubes and laminates used primarily for packaging of toothpaste, personal care, cosmetics, pharmaceuticals, household and industrial products.

Peers
Company Name CMP
Uflex 660.95
EPL 237.90
AGI Greenpac 820.80
Huhtamaki India 242.30
TCPL Packaging 4055.40
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