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Forbes & Company inches up on getting nod for entering into binding term sheet for sale of stake in Forbes Facility Services

24 Feb 2022 Evaluate

Forbes & Company is currently trading at Rs. 416.55, up by 2.45 points or 0.59% from its previous closing of Rs. 414.10 on the BSE.

The scrip opened at Rs. 435.00 and has touched a high and low of Rs. 435.00 and Rs. 410.00 respectively. So far 7166 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 487.73 on 10-Jan-2022 and a 52 week low of Rs. 93.60 on 26-Feb-2021.

Last one week high and low of the scrip stood at Rs. 435.00 and Rs. 376.00 respectively. The current market cap of the company is Rs. 534.13 crore.

The promoters holding in the company stood at 73.85%, while Institutions and Non-Institutions held 13.01% and 13.15% respectively.

Forbes & Company has received an approval for entering into binding term sheet for sale of its entire shareholding in Forbes Facility Services (FFSL), a wholly owned subsidiary of the Company to SILA Solutions. The binding term sheet has been executed on February 23, 2022 and the definitive agreements are expected to be executed by March 31, 2022. The proposed sale consideration is Rs 42 crore, subject to certain closing adjustments.

SILA Solutions is engaged in real estate development, project management and facilities management services across India. DAM Capital acted as the financial advisor to this proposed transaction for the sale of the entire shareholding in FFSL. The Board of Directors of the Company at their meeting held on February 23, 2022 has approved the same.

Forbes & Company has three main businesses; namely engineering, shipping and logistics and business automation.

Forbes & Company Share Price

338.45 -2.55 (-0.75%)
17-Apr-2026 16:59 View Price Chart
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