Shares of this small-cap company jumped on getting the nod to acquire a stake in MAPRIL
The company pioneered water treatment in India and is the country's premier company in water and environment management, with a strong international presence.
About the Acquisition
Ion Exchange (India) has been permitted to invest in and acquire the Portuguese company MAPRIL - Produtos Quimicos e Maquinas Para an Industria, Lda. According to the share purchase agreement that will be signed, the business will make an investment of approximately Rs 24 crore (subject to closing adjustments) and purchase 11,11,500 equity shares, or 100% of MAPRIL - Produtos Quimicos e Maquinas Para an Industria, Lda's issued and paid-up equity capital. At its meeting on April 20, 2023, the company's Board of Directors approved the same
Share Price Movement of Ion Exchange (India) Ltd.
The scrip opened on Thursday at Rs 3,370.05 and touched a high and low of Rs 3.509.95 and Rs 3,342.65, respectively. Its 52-week high stood at Rs 3,548.65, whereas its 52-week low was Rs 1,500.70. The current market cap of the company is Rs 5,001.33 crore. Promoters hold 26.95%, whereas the Institutional and non-institutional holdings are 13.53% and 59.52%, respectively.
Ion Exchange India, a leader in water and environmental management in India with a substantial international footprint, was a pioneer in the country's water treatment industry. It was established in 1964 as a subsidiary of the UK-based Permutit firm, but in 1985, Permutit sold its stake and the firm became entirely Indian. Currently, Ion Exchange employs 1,000 individuals, divided into multidisciplinary teams of highly qualified professionals in management, technology, and science, all of whom are supported by a sizable infrastructure both domestically and internationally.
The company has provided installations for a variety of industries in India and internationally throughout its 40-year history, including automotive, electronics, textile, fertiliser, and nuclear and thermal power. The business is well-versed in both the Indian market as well as the cultural norms that are most prominent in South East Asia, Africa, and the Middle East.
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