Comments
The shares of GMM Pfaudler Limited (GMM) were up nearly 5 per cent on Wednesday after the company announced that it had completed the acquisition of a majority stake in the global business of Pfaudler Group.
At 11:27 am, shares of GMM were trading at ₹3,908.30 on the BSE, up ₹168.80 or 4.51 per cent. It hit an intraday high of ₹3,965.00 and an intraday low of ₹3,711.95. It opened at ₹3,750.00 against the previous close of ₹3739.50.
On the NSE, it was quoting at ₹3,915.00 per share, up ₹178.90 or 4.79 per cent.
GMM on Wednesday announced that it has successfully completed the transaction to acquire a majority stake in its parent, the Pfaudler Group from private equity firm Deutsche Beteiligungs AG Fund VI, after receiving all necessary regulatory approvals.
The company has become the ultimate holding company of Pfaudler Group, with the entire business of Pfaudler being consolidated into GMM. The combined revenue of the entity is estimated to be around ₹20 billion ($267 million).
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.