Investment Trust of India gains on getting nod to divest entire stake in IRC Credit Management Services

The Investment Trust of India is currently trading at Rs. 99.95, up by 0.85 points or 0.86% from its previous closing of Rs. 99.10 on the BSE.

Investment Trust of India
Investment Trust of India

The scrip opened at Rs. 100.50 and has touched a high and low of Rs. 103.00 and Rs. 99.50 respectively. So far 2481 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 127.00 on 04-Mar-2022 and a 52 week low of Rs. 84.00 on 09-May-2022.

Last one week high and low of the scrip stood at Rs. 104.65 and Rs. 93.55 respectively. The current market cap of the company is Rs. 522.42 crore.

The promoters holding in the company stood at 72.12%, while Institutions and Non-Institutions held 6.55% and 21.33% respectively.

The Investment Trust of India’s (ITI) board has approved the proposal for sale of entire equity shares i.e. 10,000 equity shares of Rs 10 each held by the ITI in IRC Credit Management Services (Wholly Owned Subsidiary/not a material subsidiary).

Further, post aforementioned transfer, IRC Credit Management Services would be ceased to be the wholly owned subsidiary of ITI. The proposed consideration to be received is Rs 1 lakh. The Board of Directors of the company at the meeting held on November 11, 2022, has approved the same.

The Investment Trust of India is one of the largest Financial Services conglomerate offering a range of products and services from Lending, Equities and Derivatives trading, Equity Research, Commodities Trading, Portfolio Management Services, Distribution of Mutual Funds, IPO & Insurance products and Investment Banking Services.

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