Ind-Swift Laboratories touches roof on the BSE
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Ind-Swift Laboratories is currently trading at its upper limit of Rs. 123.40, up by 20.55 points or 19.98% from its previous closing of Rs. 102.85 on the BSE.
The scrip opened at Rs. 103.55 and has touched a high and low of Rs. 123.40 and Rs. 98.20 respectively. So far 199745 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 123.40 on 06-Sep-2023 and a 52 week low of Rs. 53.00 on 28-Oct-2022.
Last one week high and low of the scrip stood at Rs. 123.40 and Rs. 98.20 respectively. The current market cap of the company is Rs. 580.23 crore.
The promoters holding in the company stood at 42.00%, while Institutions and Non-Institutions held 19.57% and 38.43% respectively.
Ind-Swift Laboratories has received approval for slump Sale of the Active Pharmaceuticals Ingredients and CRAMS business (API Business) of the Company on a going concern basis to Synthimed Labs (Buyer), at a total Enterprise Value of Rs 1650 crore subject to working capital and certain other agreed adjustments in accordance with the terms of the Business Transfer Agreement (BTA) which has been executed between the Company and the Buyer. Equity value for this transaction for the company is Rs 850 crore, considering an approximate debt of Rs 800 crore, subject to other adjustments in accordance with the terms of the BTA. The Board of Directors in their meeting held on September 6, 2023, have considered and inter-alia approved the same.
Ind-Swift Laboratories is global manufacturer of Active Pharmaceutical Ingredients (API), Intermediates and formulations (through group collaboration).
