KNPL completes acquisition of 1,20,00,000 equity shares of Nerofix under JVA

KNPL completes acquisition of 1,20,00,000 equity shares of Nerofix under JVA
Kansai Nerolac informed the exchanges that transactions agreed upon the business transfer agreement between the company and Polygel Industries has been completed and in terms of the joint venture agreement, KNPL has completed the acquisition of 1,20,00,000 Equity Shares of Rs10 each of Nerofix Private Ltd.

KNPL holds 60% of the shares, while Polygel holds the remaining 40% or 80,000 equity shares of Rs10 each, in the JV.

Stock View:

Kansai Nerolac Paints Ltd is currently trading at Rs520.30 up by Rs4.65 or 0.9% from its previous closing of Rs515.65 on the BSE.

The scrip opened at Rs518.40 and has touched a high and low of Rs523.15 and Rs516.95 respectively. So far 27,389 (NSE+BSE) shares were traded on the counter.

The current market cap of the company is Rs27,789.40cr.




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