Penny Stock Under Rs 60: This Textile Company Successfully Acquired 100 Per Cent Stake in Teesta Spintex Private Limited
The stock has delivered a 1-year return of -19.65 per cent. The current market capitalisation stands at Rs 111 crore, classifying it within the small-cap segment.
Shanti Spintex Limited, a textile company incorporated in 2010, has announced a significant step in its business strategy by entering into a Share Purchase Agreement to acquire 100 per cent equity of Teesta Spintex Private Limited. The acquisition, approved by the company’s Board of Directors on May 9, 2025, is expected to be completed by May 15, 2025, subject to certain conditions. This move is part of Shanti Spintex’s forward integration plan aimed at expanding its operations within the textile sector.
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The acquisition will make Teesta Spintex a wholly-owned subsidiary of Shanti Spintex, aligning with the parent company’s ongoing efforts to strengthen its presence in the denim textile industry. The company continues to focus on enhancing its product offerings and improving operational efficiency through strategic initiatives. This acquisition highlights Shanti Spintex’s intent to deepen its business activities in related segments, which could potentially create value over the long term.
As of May 9, 2025, the stock of Shanti Spintex is trading at Rs 56.33. The stock has witnessed a 52-week high of Rs 82.28 and a low of Rs 52.02. Despite the recent acquisition buzz, the stock has delivered a 1-year return of -19.65 per cent. The current market capitalisation stands at Rs 111 crore, classifying it within the Small-Cap segment. The company’s price-to-earnings (PE) ratio is 8.56, which may be of interest to value-focused investors tracking textile stocks for potential turnaround opportunities.
Major public shareholders in the company include Jinendra Kumar Jain holding 1.35 per cent and Bindu Garg holding 1.26 per cent. The acquisition news has brought renewed attention to the stock, and market participants are likely to monitor future developments, including Quarterly Results or other strategic initiatives such as bonus issues or dividends.
Disclaimer: The article is for informational purposes only and not investment advice.