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Uniply Industries surges 5% after Markab Capital acquires controlling stake

Uniply is an integrated architectural, design and build turnkey solutions provider in the residential and commercial sectors.

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SI Reporter New Delhi
2 min read Last Updated : Jul 04 2019 | 9:52 AM IST
Shares of Uniply Industries rallied nearly 5 per cent to Rs 66.50 apiece in the early morning trade on Thursday, a day after Kuwait-based multi-family office investment firm Markab Capital WLL announced acquisition of a controlling stake in the company. The offer values the company at an enterprise value of over Rs 1,550 crore on a fully diluted basis.

Uniply is an integrated architectural, design and build turnkey solutions provider in the residential and commercial sectors. The company offers an entire gamut of services from architectural design and build, mechanical, electrical, plumbing, interiors, and furniture. Uniply, headquartered in Mumbai has presence across major Indian cities such as Delhi, Pune, Bangalore, Chennai, Hyderabad and Ahmedabad. The company also has international presence in Dubai and Malaysia.

Markab Capital and its wholly-owned Indian subsidiary, Markab India SPV Pvt Ltd, have acquired 20.7 per cent shareholding from the promoter, Keshav Kantamneni, and his group entities at Rs 82 per share, a premium of nearly 28 per cent on the price of the shares of the company as on closing of trading hours on July 3, 2019, said a Business Standard report. READ MORE

Keshav Kantamneni, chairman of Uniply said “Markab brings to the table a wealth of investment experience with small and mid market companies around the world. Their hands-on approach to investing and a proven track record of growing businesses will help strengthen the framework of growth at Uniply.”

Topics :Buzzing stocks

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