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Indo Count soars as its arm acquires 81% stake in Fluvitex USA

Indo Count Industries Ltd. | Textile | Textiles & Apparels | BSE: 521016 | NSE: ICIL

17 Sep 2024 Evaluate

Indo Count is currently trading at Rs. 407.50, up by 6.40 points or 1.60% from its previous closing of Rs. 401.10 on the BSE.

The scrip opened at Rs. 414.55 and has touched a high and low of Rs. 414.55 and Rs. 406.80 respectively. So far 11944 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 450.45 on 02-Jul-2024 and a 52 week low of Rs. 214.50 on 25-Oct-2023.

Last one week high and low of the scrip stood at Rs. 418.85 and Rs. 398.85 respectively. The current market cap of the company is Rs. 8089.53 crore.

The promoters holding in the company stood at 58.74%, while Institutions and Non-Institutions held 12.85% and 28.40% respectively.

Indo Count Industries’ subsidiary -- Indo Count Global, Inc. (ICG) has acquired majority stake of 81% in Fluvitex USA, Inc., initially with an exclusive option to buy the balance 19% stake later, by entering into a Stock Purchase Agreement with Masias Invest, S.L.

Fluvitex is a Pillow & Quilt manufacturing company based in Columbus, Ohio with an annual production capacity of 5 million Pillows of different types and 1.5 million Quilts. Fluvitex’s strategic location allows efficient distribution across the USA and Canada with a revenue potential of $50 million plus.

ICG has signed a definitive agreement for acquiring 81% stake of Fluvitex USA, Inc., from its promoter shareholder - Masias Invest, S.L., with an exclusive option to purchase the remaining 19% stake within the next 5 years. i.e. by September 30, 2029. The acquisition is funded by internal accruals and debt.

Indo Count Industries (ICIL) is the largest global home textile bed linen manufacturer.

Indo Count Inds Share Price

268.60 -7.85 (-2.84%)

20-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
Welspun Living	126.75
Vardhman Textiles	549.50
Arvind	385.05
K.P.R. Mill	919.20
Page Industries	38400.65
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Indo Count soars as its arm acquires 81% stake in Fluvitex USA

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