GMM Pfaudler in the green

GMM Pfaudler is a bright star currently, rising over 6% to hit an intraday high at Rs.3965; it has come off this high and is now trading at Rs.3961 levels, up over 4.5%. Its 20% UC for the day is at Rs.4487.40. Volumes have jumped over 2x.

The company announced today morning that it has completed the transaction to acquire a majority stake of its parent, the Pfaudler Group (“Pfaudler”) from the private equity firm Deutsche Beteiligungs AG Fund VI (“DBAG”), after receiving all necessary regulatory approvals.

Pursuant to the acquisition, GMM has become the ultimate holding company of the Pfaudler group, with the entire business of Pfaudler being consolidated into GMM.

The combined revenue of the entity is estimated to be around Rs.2000 crore.