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Crest Ventures rises on entering into SPA to acquire 48% stake in TPIL

  • May-17-2018
  • 9:29:00 Hrs IST

Crest Ventures is currently trading at Rs. 195.00, up by 4.95 points or 2.60% from its previous closing of Rs. 190.05 on the BSE.

The scrip opened at Rs. 195.00 and has touched a high and low of Rs. 195.00 and Rs. 195.00 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 295.00 on 01-Jan-2018 and a 52 week low of Rs. 135.00 on 25-May-2017.

Last one week high and low of the scrip stood at Rs. 206.10 and Rs. 188.05 respectively. The current market cap of the company is Rs. 508.07 crore.

The promoters holding in the company stood at 64.99%, while Institutions and Non-Institutions held 7.33% and 27.69% respectively.

Crest Ventures has entered into a Share Purchase Agreement (SPA) on May 15, 2018 for acquiring a stake of 48% held by Prebon Holdings BV in Tullett Prebon (India) (TPIL), its subsidiary company at a total consideration of Rs 4.52 crore subject to the regulatory approvals.

Subsequent to the above acquisition, the equity holding of the company will increase from 51.99% to 99.99%.

Crest Ventures was incorporated to carry on the business of leasing, hire-purchase and investment in securities. It focuses on acquiring and investing in financial assets and real estate.