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Shares of Talwalkars Better Value Fitness gained over 3 percent intraday on Wednesday as investors cheered its decision to acquire Force Fitness India, the holder of master franchisee of ‘Snap Fitness’ gyms.
The health and fitness center chain signed a memorandum of understanding (MoU) to invest in 50.01 percent equity in Force Fitness Limited largely through injection of funds in Snap for growth, the company told exchanges in a notification. The acquisition will
take six months to be complete, it informed.
Capital Square Advisors advised SNAP on the transaction.
The stock has seen strong movements, having gained over 7.5 percent in the past 15 days, while its three-day gain stood at 4.85 percent. At 09:40 hrs, the stock was quoting at Rs 233.65, up Rs 6.40, or 2.82 percent on the BSE. It touched an intraday high of Rs 234.85 and an intraday low of Rs 230.80.
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