U.K Paints (India) Ltd on Wednesday announced that it has acquired 50.09 per cent stake in Berger Paints.
UK Paints (India) acquired the shares through open market operations.
The company has acquired the 20,000 shares that carried voting rights.
Before the acquisition, UK Paints (India) before the acquisition had 486,545,399 shares, i.e 50.09 per cent share in the company.
Berger Paints India reported a consolidated net profit of ₹219.51 crore for the second quarter, up marginally from ₹219.21 crore in the year-ago period.
Revenue from operations for the quarter under review was ₹2,670.9 crore, a 20 per cent increase from ₹2,225 crore in the corresponding period last year, while EBITDA stands at Rs. 376.53 crore in September 2022 up 2.6% from Rs. 366.98 crore in September 2021.
The shares of Berger Paints closed 0.16 per cent down at ₹608.25 at BSE.