Windfall gains for erstwhile Excel Crop Care shareholders

Our Bureau Chennai | Updated on January 27, 2020

Shareholders of erstwhile Excel Crop Care would have made a windfall gains on Monday, as Sumitomo Chemical India, a merged entity of Excel Crop Care, got listed on the bourses. Investors whose names had appeared in the company’s books as of August 31, 2019 (record date) were credited with 51 equity shares of face value ₹10 each of SCIL for every two fully paid-up shares of face value ₹5 each in Excel Crop. Shares of Excel Crop Care last traded at ₹3,188.25 on the BSE on August 28.

Today, Sumitomo Chem got listed at Rs 191.15 and hovering at Rs 204.75 currently. That means, the value of two Excel Crop shares worth about Rs 6,180 are now worth about Rs 10,442.75 (51 shares at Rs 204.75).

According to the latest shareholding pattern available with the bourses (June 2019), promoters had held 64.97 per cent and 35.03 by public. LIC held 6.58 per cent among the public, while 25.39 per stake had been held by small retail investors.

According to Sumitomo web site, the company is into the business of petrochemicals & plastics sector, energy & functional materials sector, IT-related chemicals aector, health & crop sciences sector, pharmaceuticals sector and others.

Published on January 27, 2020

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