The company approved the sale of the entire stake of 49% of LPS Shares in LPS Bossard Private Limited, Joint venture which was valued equal to Rs. 40.18 crores.
Lakshmi Precision Screws Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 25, 2016, has transacted the following:
1. The company approved the sale of the entire stake of 49% of LPS Shares in LPS Bossard Private Limited, Joint venture which was valued equal to Rs. 40.18 crores (Total Valuation of LPS Bossard Limited as per Discounted Cash Flow Method is Rs. 82.08 Crores as per Valuation Report) to any other related party i.e. Mr. Rajesh Jain and Associates where Rajesh Jain holds majority of shareholding.
2. It has also approved the proposal for obtaining members approval by special resolution being Material related party transaction for sale of stake of 49% LPS Shares in LPS Bossard Private Limited by the postal ballot process. The cut-off date for the purpose of the Postal Ballot will be January 29, 2016.
3. Mr. Suresh Kumar, Practicing Company Secretary has been appointed as Scrutinizer to conduct the postal ballot voting process.
Lakshmi Precision Screws Ltd is currently trading at Rs. 46.2, up by Rs. 4.2 or 10% from its previous closing of Rs. 42 on the BSE.
The scrip opened at Rs. 46.2 and has touched a high and low of Rs. 46.2 and Rs. 46.2 respectively. So far 6584(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 45.95 crore.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 64 on 22-Dec-2015 and a 52 week low of Rs. 30.35 on 14-Sep-2015. Last one week high and low of the scrip stood at Rs. 44.85 and Rs. 40.3 respectively.
The promoters holding in the company stood at 63.16 % while Institutions and Non-Institutions held 0.04 % and 36.8 % respectively.
The stock is currently trading above its 50 DMA.
1. The company approved the sale of the entire stake of 49% of LPS Shares in LPS Bossard Private Limited, Joint venture which was valued equal to Rs. 40.18 crores (Total Valuation of LPS Bossard Limited as per Discounted Cash Flow Method is Rs. 82.08 Crores as per Valuation Report) to any other related party i.e. Mr. Rajesh Jain and Associates where Rajesh Jain holds majority of shareholding.
2. It has also approved the proposal for obtaining members approval by special resolution being Material related party transaction for sale of stake of 49% LPS Shares in LPS Bossard Private Limited by the postal ballot process. The cut-off date for the purpose of the Postal Ballot will be January 29, 2016.
3. Mr. Suresh Kumar, Practicing Company Secretary has been appointed as Scrutinizer to conduct the postal ballot voting process.
Lakshmi Precision Screws Ltd is currently trading at Rs. 46.2, up by Rs. 4.2 or 10% from its previous closing of Rs. 42 on the BSE.
The scrip opened at Rs. 46.2 and has touched a high and low of Rs. 46.2 and Rs. 46.2 respectively. So far 6584(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 45.95 crore.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 64 on 22-Dec-2015 and a 52 week low of Rs. 30.35 on 14-Sep-2015. Last one week high and low of the scrip stood at Rs. 44.85 and Rs. 40.3 respectively.
The promoters holding in the company stood at 63.16 % while Institutions and Non-Institutions held 0.04 % and 36.8 % respectively.
The stock is currently trading above its 50 DMA.
No comments:
Post a Comment