Redington (India) Ltd has announced that the company have received a communication from RGF that they have obtained the requisite approvals and have completed the acquisition of 70% stake in Linkplus for a consideration of USD 5.75 Million.
Redington Gulf FZE (RGF), a step down subsidiary of the Company had earlier announced it has entered into a definitive agreement to acquire 70% stake in Linkplus Bilgisayar Sistemleri Sanayi ve Ticaret A.S, Turkey (Linkplus).
Redington (India) Ltd has announced that the company have received a communication from RGF that they have obtained the requisite approvals and have completed the acquisition of 70% stake in Linkplus for a consideration of USD 5.75 Million. The balance 30% shares will be purchased on equitable basis from CY15 to CY17 at a P/E multiple of 5X.
The scrip opened at Rs. 117.55 and has touched a high and low of Rs. 119.8 and Rs. 113.85 respectively. So far 147100(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4653.65 crore.
The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 147.65 on 05-Dec-2014 and a 52 week low of Rs. 91.2 on 19-Jun-2015. Last one week high and low of the scrip stood at Rs. 121 and Rs. 115.5 respectively.
The promoters holding in the company stood at 13.33 % while Institutions and Non-Institutions held 52.83 % and 33.84 % respectively.
The stock is currently trading above its 50 DMA.