SKF India has bought back equity shares through the tender offer process, not exceeding 2,600,00 fully paid up equity shares of face value Rs 10 each at a price of Rs 1500 per equity share. ICICI Bank has been appointed as the merchant banker for the said process, by the Company.
The Company’s stock is trading up by 2.10% at Rs 1518 per share on BSE. It has underperformed the BSE Mid-cap index on a yearly basis. SKF India Limited (SKF) offers bearings and its components. The Company's business model comprises two streams, which include sales of own manufactured goods and services; and sales of traded goods manufactured by other SKF companies. BSE Mid-cap index is trading up by 35 points or 0.25% at 13947 levels.
SKF India Ltd scrip opened at Rs 1481.25 and has touched a high and low of Rs 1530 and Rs 1481.25 respectively. So far 33182(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 7829.35 crore. The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 1550 on 02-Nov-2016 and a 52 week low of Rs 1170 on 23-May-2016.
Last one week high and low of the scrip stood at Rs 1502 and Rs 1466.2 respectively. The promoters holding in the company stood at 53.58 % while Institutions and Non-Institutions held 32.55 % and 13.87 % respectively.