Soma Textiles Share Price Shares of Soma Textiles and Industries opened with an upper circuit of 20 percent. In fact, the company has informed the exchange that Roadway Solutions will buy the entire stake in the company through an open offer. Soma Textiles and Ins has given a great return of 1825 percent in the last five years.
A textile stock climbed up to 20 percent amid the fall in the stock market. In fact, the upper circuit in the shares of Soma Textiles and Industries was applied after the news in which the company announced that Roadway Solutions will buy the entire stake in the company through an open offer. Shares of Soma Textiles opened with an upper circuit of 20 percent at Rs 53.89. Trading in this stock has stopped due to the circuit.
The previous closing of Soma Textiles shares on NSE was Rs 44.91. On July 10, this textiles stock has seen a volume of 1.25 lakh shares so far.
What is the company's plan
Soma Textiles and Industries Limited, a company with a market cap of Rs 178, said in a filing to the stock exchange that the company's shares will be acquired by Roadway Solutions India Infra Limited.
Roadway Solutions India Infra Limited has signed an agreement to buy 74.98 per cent stake, comprising 2.47 crore shares, from the existing promoters for Rs 87.67 crore. Subsequently, they have made an open offer to buy an additional 25.02 per cent stake, i.e. 82.65 lakh shares, from common shareholders at a rate of Rs 47.14 per share, following SEBI rules.
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