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Forbes & Co jumps 5% as PE major Advent buys stake in Eureka Forbes

The private equity major Advent International on Sunday signed an agreement with Shapoorji Pallonji Group to acquire a majority stake in Eureka Forbes at an enterprise valuation of Rs 4,400 crore

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SI Reporter Mumbai
Shares of Forbes & Company were locked in the upper circuit of 5 per cent at Rs 4,184.35, also its 52-week high on the BSE in Monday's session after the private equity (PE) major Advent International on Sunday signed an agreement with Shapoorji Pallonji Group to acquire a majority stake in Eureka Forbes at an enterprise valuation of Rs 4,400 crore.

Till 02:35 pm, around 81,000 equity shares of the company had changed hands on the counter on the BSE, as compared to an average of 18,000 shares that were traded in the past two weeks. There were pending