GMM shares up 5% on stake-buy in parent’s global biz

Our Bureau Mumbai | Updated on February 17, 2021

Stake bought from private equity firm Deutsche Beteiligungs AG Fund VI

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).

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Published on February 17, 2021
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