 "RPSG Ventures jump 5% after arm incorporates US based ayurvedic company")
RPSG Ventures' shares jumped 5 per cent and logged an intraday high of Rs 1,130.05 per share on the BSE on Thursday. The buying in the stock sparked after the company's subsidiary Spectrum Delight incorporated Natural Wellness in the US.
At around 1:59 PM, RPSG Ventures share price were up 2.52 per cent at Rs 1,102.45 per share. In comparison, the BSE Sensex was up 0.24 per cent at 81,659.76. The market capitalisation of the company stood at Rs 3,664.32 crore at around the same time.
"We would like to inform that Spectrum Delight Private Limited (Spectrum), a step-down subsidiary of the company, has incorporated today a company named Natural Wellness Inc. (NWI) in the USA and accordingly NWI has become a step-down subsidiary of the company effective today," the filing read.
Natural Wellness has been incorporated as a wholly-owned subsidiary of Spectrum Delight. The acquisition aims to explore opportunities in ayurvedic health and wellness products.
RPSG Ventures, in the quarter ended June 30, 2024, stood at Rs 102 crore as against Rs 153 crore a-year ago. Its revenue from operations for the quarter under review stood at Rs 2,516.31 crore, up from Rs 2,296.06 crore seen last year.
The total income for the April to June quarter stood at Rs 2,524.7 crore as against Rs 2,300.98 crore a year ago. The total expense for the Q1FY25 quarter stood at Rs 2,216.45 crore against Rs 1,901.15 crore year-on-year (Y-o-Y).
RPSG Ventures is an investment firm that seeks to back early-stage companies, particularly in sectors such as consumer products, technology, and healthcare.
As per its website, RPSG Ventures Limited, along with its subsidiaries, operates a diversified portfolio of businesses including information technology (IT) services, business process management (BPM), fast moving consumer goods (FMCG) including, ayurvedic formulations, real estate and sports.
In the past one year, shares of RPSG Ventures have gained 90 per cent against Sensex's rise of 23 per cent.
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