Announced Tue, 23 Jun · 19:00 IST
Le Merite Exports buys extra 14.5% in defence textile subsidiary
LEMERITE · price
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Price reaction · full curve 14 horizons · vs prior close
-9.7%1-day move
₹26.38
prior close
₹26.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.0+0.2-0.3-3.6-9.7-11.3-12.0-16.3-20.4-12.3-18.1-21.7——
Up moveDown movePending
AI summary
Board approved buying an additional 14.5 percent stake (14,500 shares at Rs 10 each, totalling Rs 1.45 lakh) in subsidiary LMTDSPL from minority shareholder Nand Nandan Sureka. LMTDSPL operates in technical and defence textiles and was incorporated in June 2025. Company stake will rise from 51 percent to 65.5 percent. Cash deal, to close within 60 days, carried out at arm's length. Target is a new entity with no audited financials yet.
Likely market impact
Minor subsidiary stake increase with negligible cash impact. LMTDSPL has no revenue yet, so limited near-term value addition for shareholders.