Shares of Elitecon International continued to surge on Thursday, July 10, 2025, locking in the 5 per cent upper circuit at Rs 93.34 on the BSE. The latest action in stock comes following an announcement of the acquisition update of an overseas business entity, Elitecon International Limited. The company has informed exchanges that its board of directors has considered and approved the acquisition of Prime Place Spices Trading L.L.C. As per the details available, the entity is engaged in trading spices, nuts, coffee, tea, confectionery, and chocolate. It distributes over 100 varieties of food products, including organic spice products across the country.
Elitecon International said that the acquisition will help it in exploring opportunities to expand its presence in the fast moving consumer goods (FMCG) segment in international markets.
The Target Entity is a strategically aligned acquisition candidate, with a strong and established presence in the FMCG sector in Dubai, which is a key global trading hub.... This acquisition would position the Company as a global player in the FMCG space, complementing its existing focus on agro commodities while offering significant potential for diversification into other product segments," the company said.
Cost Of Acquisition
This is a mix of equity and cash deal, and the cost of the acquisition is around Rs 700 crore. While it includes a cash consideration of Rs 300 crore, the rest of the stake will be acquired by way of a swap of shares.
Share Price History
The stock has been gaining for the last 14 days and has risen by 88.99 per cent in the period. Technically, the scrip is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. Currently, the stock is under Additional Surveillance Measure Framework (ASM LT: Stage 4).
According to BSE Analytics, the counter has given an 800 per cent return so far this year. It has gained 685 per cent in six months.
