Pipavav Defence is currently trading at Rs. 83.00, up by 0.75 points or 0.91% from its previous closing of Rs. 82.25 on the BSE.
The scrip opened at Rs. 82.40 and has touched a high and low of Rs. 84.25 and Rs. 82.40 respectively. So far 226242 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 88.15 on 05-Jul-2012 and a 52 week low of Rs. 50.65 on 21-Nov-2011.
Last one week high and low of the scrip stood at Rs. 84.25 and Rs. 78.60 respectively. The current market cap of the company is Rs. 5788.39 crore.
The promoters holding in the company stood at 45.03% while Institutions and Non-Institutions held 20.28% and 34.69% respectively.
Pipavav Defence and Offshore Engineering Company has signed a share subscription cum shareholders agreement with SAAB AB, Sweden (SAAB), a part of Wallenberg Group for issue of 24,607,881 fully paid-up equity shares of face value of Rs 10 each at a issue price of Rs 82 per equity share to SAAB which is 7.75% premium to the average of six month’s weekly closing price.
The company has inked an agreement pursuant to board approval, subject to required corporate and statutory approvals, approved issue of equity shares to SAAB on preferential allotment basis.
Also, under the aforesaid agreement, SAAB will invest 250 million Swedish Kronors in the company. This is the first strategic investment made by a global defence major into an Indian company focusing on defence production. SAAB and Pipavav Defence partnership will also focus on exporting military hardware
SAAB is a global leader in military hardware meant for Army, Navy and Air Force and will bring in advance proprietary technology in India through the company, which will immensely benefit India’s armed forces.
Company Name | CMP |
---|---|
Shipping Corpn. | 230.90 |
GE Shipping | 1073.40 |
Dredging Corp | 853.00 |
Shreyas Shipping | 298.50 |
Seamec | 1051.35 |
View more.. |