Suprajit Engineering, a manufacturer of two wheeler control cable, has acquired the balance 10.88% stake in the fully paid up equity share capital of Phoenix Lamps from Argon India and Mauritius & Argon South Asia.

The  company has acquired 30,47,312 equity shares of Rs 10 each for a consideration at Rs 89 a share aggregating to Rs 271.2 million and completed second tranche of share transfer in line with SPA signed on May 6, 2015.

This, together with 51% shares acquired earlier on June 18, 2015 from the above entities, and, 0.05% shares acquired from open offer concluded recently, takes the total shareholding of Suprajit in Phoenix to 61.92%.

Shares of the company gained Rs 1.1, or 0.83%, to settle at Rs 133.20. The total volume of shares traded was 837 at the BSE (Friday).