Savita Oil Technologies has executed Share Purchase agreement for acquisition of 6,00,000 equity shares (of face value of Rs 10 each) of Savita Polymers (SPL) having its office at Nariman Point, Mumbai for a total proportionate consideration of Rs 1,24,55,04,060.99. The total proportionate consideration for this acquisition of Rs 1,24,55,04,060.99 is arrived at based on an Enterprise Value of the business of SPL at Rs 80 crore plus Cash and Cash Equivalents and Fair Value of Investments of SPL as on closing hours of October 06, 2021, together totalling to Rs 1,26,62,62,462 for a total of 6,10,000 equity shares (including 10,000 equity shares already held by the Company).
Upon transfer of equity shares of SPL to the demat account of the Company, which process is underway, SPL shall become a wholly owned subsidiary of the Company.
Savita Oil Technologies has been pioneering petroleum speciality products.
| Company Name | CMP |
|---|---|
| Castrol India | 183.50 |
| Savita Oil Tech | 366.00 |
| Gulf Oil Lubricant | 966.80 |
| Gandhar Oil Refinery | 144.50 |
| Panama Petrochem | 271.60 |
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