Rpg Ricoh Duplicates

Price on 13/02/98: Rs 11.9

Price on 20/02/98: Rs 14.25

The office automation joint venture between RPG and Ricoh Co. Ltd. of Japan, has seen its scrip flaring on the bourses by 19.75 per cent in the last one week. The reason for this being Ricohs move to increase its stake in the venture to 55 per cent from the existing 26 per cent. This will be effected through an allotment of 43 lakh shares to Ricoh, thus expanding the equity capital to Rs 10.76 crore from the current Rs 6.46 crore. In addition, the RPG group intends to sell its stake in the venture to Ricoh.

 

As a result of which Ricohs stake will go up to 76 per cent. The preferential allotment will bring down RPGs holding to 20.4 per cent from 34 per cent and the floating stock will go down to 24 per cent.

Ricohs move has been driven form the fact that it wants to enhance its presence in the Indian market. Through launch of new innovative office automation products, it intends to double the companys turnover by 2000 AD.