Shaping together! Talwalkars to acquire Inshape Health & Fitness

The investment into IHPL will enable TBVF to further strengthen their presence in a fitness conscious Chennai Market.

Talwalkars Better Value Fitness Ltd has informed BSE that Talwalkars Better Value Fitness Ltd. (TBVF), one of India's largest fitness chains has entered into an agreement to acquire strategic stake in Inshape Health and Fitnez Private Limited (IHPL), a health and fitness center having operations in Chennai.

The investment into IHPL will enable TBVF to further strengthen their presence in a fitness conscious Chennai Market.

The partnership combines TBVF's strong hold in the fitness industry in India with IHPL's expertise in the local industry and market knowledge.

Talwalkars Better value Fitness Ltd is currently trading at Rs. 253.5, up by Rs. 6.7 or 2.71% from its previous closing of Rs. 246.8 on the BSE.

The scrip opened at Rs. 246 and has touched a high and low of Rs. 253.5 and Rs. 244.7 respectively. So far 13206(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 733.12 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 409.8 on 17-Mar-2015 and a 52 week low of Rs. 216 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 252.5 and Rs. 241.4 respectively.

The promoters holding in the company stood at 37.89 % while Institutions and Non-Institutions held 24.9 % and 37.2 % respectively.

The stock is currently trading below its 200 DMA.