Styrolution ABS (India) has surged 6% to Rs 422 after nearly 75% of total equity of the company have changed hands in a single block deal on the Bombay Stock Exchange (BSE).
About 13.19 million shares representing 75% of total equity of Styrolution ABS (India) have changed hands at price of Rs 420 per share, the BSE data shows. The stock opened at Rs 413 and touched a high of Rs 438 so far on the BSE.
The foreign promoter Styrolution (Jersey) Ltd holds 75% stake in the company, the shareholding patter data shows.
According to media reports, Styrolution ABS (India) proposed to transfer its entire 75% stake held by its UK-based promoter entity to a group firm in Singapore.
Styrolution Singapore and Styrolution Jersey are both wholly owned subsidiaries of the same holding company (Styrolution Group) and the acquisition is a result of inter-se transfer of entire equity interest from one of its subsidiary to the other.
About 13.19 million shares representing 75% of total equity of Styrolution ABS (India) have changed hands at price of Rs 420 per share, the BSE data shows. The stock opened at Rs 413 and touched a high of Rs 438 so far on the BSE.
The foreign promoter Styrolution (Jersey) Ltd holds 75% stake in the company, the shareholding patter data shows.
According to media reports, Styrolution ABS (India) proposed to transfer its entire 75% stake held by its UK-based promoter entity to a group firm in Singapore.
Styrolution Singapore and Styrolution Jersey are both wholly owned subsidiaries of the same holding company (Styrolution Group) and the acquisition is a result of inter-se transfer of entire equity interest from one of its subsidiary to the other.