Bombay Dyeing and Manufacturing Company has surged 13% at Rs 60.20 in early morning deals on BSE on reports that global private equity (PE) firms are eyeing stake in the Wadia Group firm.
The stock opened at Rs 57.20 and touched high of Rs 61.95 on BSE. A combined around 920,000 shares change hands on the counter till 0920 hours on BSE and NSE.
“At least three global PE firms are in talks to acquire up to 24% stake jointly in Bombay Dyeing, the flagship company of the diversified Wadia Group, for about Rs 500 crore,” PTI report suggests.
Promoters currently own about 52.3% stake in Bombay Dyeing, while domestic institutions and foreign funds together have about 25% stake, according to the shareholding pattern data.
The stock opened at Rs 57.20 and touched high of Rs 61.95 on BSE. A combined around 920,000 shares change hands on the counter till 0920 hours on BSE and NSE.
“At least three global PE firms are in talks to acquire up to 24% stake jointly in Bombay Dyeing, the flagship company of the diversified Wadia Group, for about Rs 500 crore,” PTI report suggests.
Promoters currently own about 52.3% stake in Bombay Dyeing, while domestic institutions and foreign funds together have about 25% stake, according to the shareholding pattern data.
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