At around 9.55 AM, Veljan’s counter was trading 12.88% higher at Rs1,199 against its previous close of Rs1,062.15 on BSE.
The company informed that the cost of said acquisition is Euro 14,00,000 (approx. Rs112.87 crore). The 100% consideration for this acquisition will be payable in cash.
It will complete the 100% acquisition of shares by August 2022.
Adan Holdings owns stock in other hydraulics and engineering firms in the United Kingdom. This acquisition will help elevate the company's market position in Europe.
This acquisition does not fall under related party transactions and the promoter/ promoter group/group companies/Directors have no personal interest in the entity being acquired.
In the financial year ended May 2021, Adan Holding reported a turnover of Euro 124,400.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.