Bombay Dyeing trades jubilantly on the buzz of global PE firms eyeing stake

Bombay Dyeing & Manufacturing Company is currently trading at Rs. 60.65, up by 7.30 points or 13.68% from its previous closing of Rs. 53.35 on the BSE.

The scrip opened at Rs. 57.20 and has touched a high and low of Rs. 61.95 and Rs. 57.10 respectively. So far 324455 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 139.85 on 01-Jan-2013 and a 52 week low of Rs. 37.25 on 07-Aug-2013.

Last one week high and low of the scrip stood at Rs. 61.95 and Rs. 48.65 respectively. The current market cap of the company is Rs. 1101.86 crore.

The promoters holding in the company stood at 52.29% while Institutions and Non-Institutions held 25.11% and 21.25% respectively.

Three global private equity (PE) firms are reportedly in talks to acquire around 24% stake jointly in the Wadia Group firm -- Bombay Dyeing and the deal could be valued at over Rs 500 crore. Currently, the promoters holding in the company stood at 52.29%, while institutions and non-institutions held 25.11% and 21.25% stake in the company, respectively.

The company is engaged in manufacturing wide range of cotton suitings, polyester cotton suitings, shoe lining and duck fabrics, satin furnishings, yarn dyed fabrics, towels, table tops and napkins, satin bed sets, etc. Textile manufacturing is main activity of Bombay Dyeing with 5 manufacturing facilities confirming to international standards.