Aurobindo Pharma shines on getting nod to transfer of API Non-Antibiotic Division to Auro Pharma India
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Aurobindo Pharma is currently trading at Rs. 452.55, up by 11.85 points or 2.69% from its previous closing of Rs. 440.70 on the BSE.
The scrip opened at Rs. 445.10 and has touched a high and low of Rs. 459.15 and Rs. 445.10 respectively. So far 49321 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 730.00 on 25-Mar-2022 and a 52 week low of Rs. 397.30 on 03-Feb-2023.
Last one week high and low of the scrip stood at Rs. 459.15 and Rs. 403.60 respectively. The current market cap of the company is Rs. 25822.31 crore.
The promoters holding in the company stood at 51.83%, while Institutions and Non-Institutions held 37.21% and 10.96% respectively.
Aurobindo Pharma has received an approval for transfer of units constituting API Non-Antibiotic Division of the company to Auro Pharma India, a wholly owned subsidiary of the company by way of slump sale through a Business Transfer Agreement(s). The completion of the sale is estimated in the first/ second quarter of FY 2023-24. The slump sale(s) shall be effective from April 1, 2023 onwards.
Transfer of API Non-Antibiotic Division will be done for a lumpsum consideration of Rs 3,303.17 crore. This consideration is based on the financial statements of the API Non-Antibiotic Division as on December 31, 2022 (on a cash free basis). The Board of Directors of the Company at its meeting held on February 9, 2023 has approved the same.
Aurobindo Pharma is engaged in manufacturing pharmaceutical products. It offers active pharmaceutical ingredients, intermediates and generic formulations like astemizole, domeperidone and omeprazole; anti-infective, oral and sterile antibiotics, pain management and osteoporosis segments.
