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Titan Biotech soars on planning to acquire stake in Titan Media

13 Feb 2024 Evaluate

Titan Bio-Tech is currently trading at Rs. 520.00, up by 56.40 points or 12.17% from its previous closing of Rs. 463.60 on the BSE.

The scrip opened at Rs. 523.90 and has touched a high and low of Rs. 529.80 and Rs. 511.60 respectively. So far 4251 shares were traded on the counter.

The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 550.00 on 10-Jan-2024 and a 52 week low of Rs. 193.10 on 29-Mar-2023.

Last one week high and low of the scrip stood at Rs. 536.90 and Rs. 451.10 respectively. The current market cap of the company is Rs. 383.11 crore.

The promoters holding in the company stood at 55.88%, while Non-Institutions held 44.12% stake in the company.

Titan Biotech is all set to acquire 33,90,510 partly paid up equity shares of Rs 24 each at par aggregating to Rs 8.13 crore out of which Rs 2.03 crore will be paid on application (only application) by way of subscribing to the rights issue of Titan Media (Investee Company).

In this regard, the Company is all set to acquire equity shares equivalent to voting rights of 64.58% of the total issued and paid up share capital of the Investee Company whenever the Investee Company will make a further calls on the said issue.

The company stake in Investee Company will increase in proportionally on each call. Currently, the Company will pay the 25% on application (Tranches 1) amount and rest will be paid on further calls of the said issue.

Titan Biotech is one of the leading manufacturers & exporters of the biological products used in the field of Pharmaceutical, Nutraceutical, Food & Beverages, Biotechnology & Fermentation etc.


Titan Bio-Tech Share Price

496.00 21.55 (4.54%)
30-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
BASF India 3640.10
Tata Chemicals 809.45
SRF 2519.20
Pidilite Inds. 1375.55
Deepak Nitrite 1736.90
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