The divestment upto 100% of the Company's stake in Havells Exim, Hongkong, a 100% subsidiary of the Company to Shanghai Feilo Acoustics Co. Ltd. (FEILO) or its Affiliates on such terms and conditions as contained in the proposed SPA signed interalia between the company.
The divestment proposed by Havells Holdings Limited (HHL), a 100% subsidiary of the Company, for the sale of its stake upto 100% in Havells Malta Limited (excluding its subsidiaries based in United States, Brazil, Chile and Thailand) to Shanghai Feilo Acoustics Co. Ltd. (FEILO) or its Affiliates on such terms and conditions as contained in the proposed Share Purchase Agreement (SPA) and the Share Holders Agreement (SHA) signed interalia between the buyer (FEILO) and seller (HHL).
Havells Malta Limited is a wholly-owned subsidiary of Havells Holdings Limited and thereby a step-down subsidiary of the Company. The divestment upto 100% of the Company's stake in Havells Exim Limited, Hongkong (Exlm), a 100% subsidiary of the Company to Shanghai Feilo Acoustics Co. Ltd. (FEILO) or its Affiliates on such terms and conditions as contained in the proposed Share Purchase Agreement (SPA) signed interalia between the buyer (FEILO) and seller (Company).
The scrip opened at Rs. 280.5 and has touched a high and low of Rs. 291.7 and Rs. 280.5 respectively. So far 782,040 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 17650.85 crore.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 346.15 on 10-Dec-2014 and a 52 week low of Rs. 235.6 on 09-Nov-2015. Last one week high and low of the scrip stood at Rs. 304.35 and Rs. 275.1 respectively.
The promoters holding in the company stood at 61.63 % while Institutions and Non-Institutions held 26.77 % and 11.59 % respectively.
The stock is currently trading below its 200 DMA.
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