Tuesday, June 29, 2010
SAMRUDDHI CEMENTS LISTS AT Rs.579.75
NAME - NSE - SAMRUDDHI ; BSE- 533209.
Share Price - Rs.488 ;
Market Cap - Rs.12,770.15 cr ;
Total Debts - Rs.2100 cr ;
52 Week High - Rs.590 ; Low- Rs.477.15 ;
P/E - 00.00 ; EPS - 00.00 ;
Book Value - Rs.175.15 ; Industry P/E - 8.95 ;
Fv - Rs.5.00 ; Dividend - 35 % ;
Total Shares Issued - 26,16,83,571 shares ;
Promoter's Holding - 16,99,99,988 shares ; Promoter's holding in % - 65%
Listing Samruddhi Cement on the bourses is a part of the restructuring process of the cement business of the Aditya Birla group.
The company has listed with 26.16 crore equity shares of face value of Rs 5 each.
Shares of Samruddhi Cement touched a high of Rs 600 and a low of Rs 478.15 on the Bombay Stock Exchange.
On the National Stock Exchange, the scrip listed at Rs 579.75. It touched a high of Rs 590 and low of Rs.477.15.
The company made its listing on the bourses after Aditya Birla Group flagship firm Grasim Industries, last year, approved the demerger of Samruddhi Cement with itself.
As part of the arrangement, the company will be merged with UltraTech Cement on 10 July 2010.
Accordingly, 4 shares of UltraTech would be issued for every 7 shares of Samruddhi.
Each Grasim shareholder had received one equity share of Rs 5 of Samruddhi Cement for every one share held in Grasim, as a part of the scheme.
The merged entity will have an annual capacity to produce 48.8 million grey cement with 22 plants. It will also have 11. 7 million cubic metres of ready mix concrete across 68 plants along with captive thermal power plants of 504 mega watts.
After the completion of the merger, Grasim would hold 60. 3% of UltraTech's expanded equity capital and 39.7 % would be held directly by other shareholders of UltraTech and Samruddhi.
It is to be noted that the Fair Value of Samruddhi Cements is 55 % Ultratech Cements price.
My previous post on this event click - GRASIM IND SAMRUDDHI DEMERGER