Wanbury lists with a bang following merger

DALAL STREET SPIKES

Wanbury "" the final entity formed out of the merger of Wander with Pearl Organics "" commenced trading on the stock exchanges and started off with a bang. The stock opened at Rs 130, went to a high of Rs 205 while the low for the day was Rs 189.70. A total of 4.17 lakh shares were traded on the BSE.

The merger approval was obtained on August 26 last year. Wander was an unlisted entity while Pearl Organics was listed. Dealing in the shares of Pearl Organics was stopped from October 5, 2004 as October 12, 2004 had been fixed as the date for giving effect to the scheme of reduction of capital.

The paid-up capital prior to the merger was Rs 7.2 crore which, after the merger stood reduced at Rs 3.60 crore. For the period October 1, 2004 to December 31, representing the third quarter of the fiscal year 2004-05, company recorded a total income of Rs 18.96 crore.

The company has focussed on continuously improving productivity and reducing cost.