Talwalkars Better Value Fitness (TBVF) share price jumped as much as 3.40 per cent after the company informed BSE that it has entered into an agreement to acquire strategic stake in Inshape Health and Fitnez Private Limited (IHPL), a health and fitness center having operations in Chennai. The investment into IHPL will enable TBVF to further strengthen their presence in a fitness conscious Chennai Market.
At 11.17 am, Talwalkars Better Value Fitness share price was up 1.58 per cent at Rs 250.70. The scrip opened at Rs 246 and had touched a high and low of Rs 255.20 and Rs 244.70, respectively, in trade so far.
Share price of the company closed 1.30 per cent up at Rs 250.
TBVF to acquire 51 per cent equity shares from promoters of Inshape Health and Fitnez in an all cash deal.
In a BSE filing, the company said, “The investment into IHPL will enable TBVF to further strengthen their presence in a fitness conscious Chennair market. The partnership combines TBVF’s strong hold in the fitness industry in India with IHPL’s expertise in the local industry and market knowledge.”
The promoters holding in the company stood at 37.89 per cent while institutions and non-institutions held 24.90 per cent and 37.21 per cent, respectively.
The share price of Talwalkars touched a 52 week high of Rs 409.80 on 17-Mar-2015 and a 52 week low of Rs 216 on 25-Aug-2015