Announced Tue, 30 Jun · 17:08 IST
GPIL raises stake in Jammu Pigments to 43.96 percent via CCPS conversion
GPIL · price
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Price reaction · full curve 14 horizons · vs prior close
+1.2%1-day move
₹255.00
prior close
₹256.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-0.8-0.3-0.3+0.7+1.2-0.1+1.2-1.8-3.1-0.0-5.0———
Up moveDown movePending
AI summary
GPIL received 58,92,256 equity shares of Jammu Pigments Limited upon conversion of CCPS at Rs 10 face value plus Rs 287 premium. GPIL holding in associate JPL rose from 26,77,506 to 85,69,762 shares, now 43.96 percent of paid up capital. No fresh cash was infused. JPL recycles non-ferrous metals and lead acid batteries; its turnover grew from Rs 592 crore to Rs 878 crore over three years.
Likely market impact
Higher strategic stake in associate JPL boosts GPIL exposure to growing non-ferrous metal recycling without additional cash outflow.