Indrayani Biotech surges as its arm acquires 51% stake in HIPL
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Indrayani Biotech is currently trading at Rs. 95.85, up by 4.55 points or 4.98% from its previous closing of Rs. 91.30 on the BSE.
The scrip opened at Rs. 93.70 and has touched a high and low of Rs. 95.85 and Rs. 93.70 respectively. So far 37408 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 115.70 on 23-Sep-2022 and a 52 week low of Rs. 18.40 on 03-Mar-2022.
Last one week high and low of the scrip stood at Rs. 95.85 and Rs. 89.60 respectively. The current market cap of the company is Rs. 328.07 crore.
The promoters holding in the company stood at 44.89%, while Institutions and Non-Institutions held 19.17% and 35.94% respectively.
Indrayani Biotech’s wholly owned subsidiary -- IBL Healthcare has acquired 5,10,000 equity shares, constituting 51% of total no of equity shares, of Healthway India (HIPL). Thus, HIPL has become a subsidiary company of IBL Healthcare. The cost of acquisition is Rs 5.10 lakh.
Indrayani Biotech is a company belonging to food sector. They are a part-finance its project to produce cut flowers, strawberries, tissue culture plantlets and hybrid vegetable seeds. The company also markets and distributes hybrid vegetable seeds manufactured by Hoechst India. It plans to produce these seeds for Hoechst in due course of time.
