TTK Prestige is currently trading at Rs. 3519.40, up by 66.10 points or 1.91% from its previous closing of Rs. 3453.30 on the BSE.
The scrip opened at Rs. 3477.00 and has touched a high and low of Rs. 3560.00 and Rs. 3476.00 respectively. So far 2717 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3996.00 on 10-Oct-2012 and a 52 week low of Rs. 2705.00 on 05-Jun-2012.
Last one week high and low of the scrip stood at Rs. 3680.00 and Rs. 3390.00 respectively. The current market cap of the company is Rs. 3988.13 crore.
The promoters holding in the company stood at 74.96% while Institutions and Non-Institutions held 16.87% and 8.17% respectively.
TTK Prestige, the leading player in the kitchen appliance segment will be issuing 300,000 equity shares of Rs 10 each at a premium of Rs 3,540 per share on preferential basis to Cartica Capital, a Mauritius domiciled entity. The above allotment will however be subject to approval of shareholders and applicable regulatory clearances. This price is at a premium to the two week average market price preceding the relevant date as prescribed under the SEBI Regulations.
About Rs 106.50 crore raised from this preferential allotment will be used for general corporate purposes including retirement of debt. The increased capital base, reserves and liquidity as a result of free cash flows being generated by the company will enable the company to pursue opportunities for further growth, both organic and inorganic, with minimum leverage. Together with 350,000 shares acquired from the promoters at the same price, Cartica will hold 5.6% stake in the company, while the promoters will own about 70%.
TTK Prestige, one of the oldest business houses in the country today. Having initially pioneered and established a network of distribution, TTK Prestige moved to manufacturing, post-independence. Being a dynamic and fast growing company, it soon became the leading manufacturer of Pressure cookers in India and offered the most comprehensive range of kitchenware in the world.
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