/ Berger Paints India Acquires Saboo Coatings ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 6 June 2017

Berger Paints India on Tuesday informed the bourses that it has acquired 100% of the paid-up equity share capital of Saboo Coatings Private Limited (SCPL).

The shares were acquired from existing shareholders at a consideration of Rs 81.77 crore. The said acquisition was approved at a board meeting held on May 30, 2017, and was completed on June 5, 2017.

Saboo Coatings has become 100% subsidiary of Berger Paints India after the said acquisition.

Berger Paints India was down by 1.6% at Rs 251.60 per share at 14:30 hours IST on BSE. It touched a high of Rs 258.85 and a low of Rs 250.75 so far during the day.

The stock has delivered more than 20% returns in over a year’s time. It has also outperformed BSE Sensex and Nifty Commodities over the same period.

Berger Paints India Limited is engaged in the manufacture of paints and varnishes, enamels or lacquers.

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