Spice Mobility shines on plan to acquire OPL and NSSPL

Spice Mobility is currently trading at Rs. 15.25, up by 0.75 points or 5.17% from its previous closing of Rs. 14.50 on the BSE.

The scrip opened at Rs. 14.34 and has touched a high and low of Rs. 15.95 and Rs. 14.34 respectively. So far 39231 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 3 has touched a 52 week high of Rs. 35.60 on 13-Jan-2016 and a 52 week low of Rs. 11.55 on 11-Mar-2016.

Last one week high and low of the scrip stood at Rs. 15.70 and Rs. 14.01 respectively. The current market cap of the company is Rs. 363.44 crore.

The promoters holding in the company stood at 74.36% while Non-Institutions held 25.63% respectively.

Spice Mobility has decided to acquire entire equity stake in Omniventures (OPL) and New Spice Solutions (NSSPL). While OPL is a newly incorporated company, NSSPL also does not have any significant business activity. Consequent to the said acquisition, both OPL and NSSPL will become wholly owned subsidiaries of the company.

Spice Mobility is engaged in manufacturing mobile phones. Its products include smart devices, smart phones, networking phones, feature phones and archived phones. Spice Mobility operates as a subsidiary of Spice Group.