The deal value is greater than the firm s closing market cap of Rs 2,900 crore on September 13, when the deal was announced. Analysts believe the company may look to reduce debt with the proceeds from the deal, which currently stands at Rs 3,969 crore.
Stock Market Live Updates: Nifty positive, Sensex gains 250 pts; Bombay Dyeing jumps 20% thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
At around 10:20 am, Bombay Dyeing shares were up over 15 per cent at around Rs 162 apiece. In early trade, shares of the company surged nearly 20 per cent.
Bombay Dyeing to monetize the land parcel at Worli for ~Rs. 5,200 Crs equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.