GIC real estate to acquire majority stake in Nirlon

Written By Unknown on Selasa, 23 Desember 2014 | 23.25

Kotak Mahindra Capital Company Limited and HSBC Securities and Capital Markets (India) Private Limited are acting as joint managers to the open offer

GIC real estate, an affiliate of GIC, Singapore's sovereign wealth fund, announces agreement to acquire up to 39.2 percent stake in Nirlon . The company is likely to make an open offer to acquire up to an additional 28.4 percent. 

Kotak Mahindra Capital Company Limited and HSBC Securities and Capital Markets (India) Private Limited are acting as joint managers to the open offer. Amarchand & Mangaldas  and Suresh A Shroff & Company are the legal advisers to the acquirer.

Nirlon stock price

On December 22, 2014, Nirlon closed at Rs 193.00, down Rs 3.7, or 1.88 percent. The 52-week high of the share was Rs 198.95 and the 52-week low was Rs 40.00.


The company's trailing 12-month (TTM) EPS was at Rs 4.91 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 39.31. The latest book value of the company is Rs 193.68 per share. At current value, the price-to-book value of the company is 1.00.


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