Cipla rises on acquiring additional stake in GoApptiv
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Cipla is currently trading at Rs. 1413.60, up by 22.15 points or 1.59% from its previous closing of Rs. 1391.45 on the BSE.
The scrip opened at Rs. 1397.90 and has touched a high and low of Rs. 1418.55 and Rs. 1395.05 respectively. So far 1731 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1424.65 on 23-Jan-2024 and a 52 week low of Rs. 852.00 on 22-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1418.55 and Rs. 1312.70 respectively. The current market cap of the company is Rs. 112340.04 crore.
The promoters holding in the company stood at 33.47%, while Institutions and Non-Institutions held 49.99% and 16.53% respectively.
Cipla has completed acquisition and subscription of additional shares in GoApptiv, associate company. Accordingly, Cipla will now hold 22.99% stake on a fully diluted basis in GoApptiv. This is Cipla’s third investment in GoApptiv, which will be made in a combination of equity shares and compulsorily convertible preference shares. GoApptiv has experienced significant expansion in underpenetrated areas and product lines following prior investments by Cipla in 2022 and 2020.
In line with Cipla’s ambition to strengthen investments in channels of the future, this development will further expand Cipla’s presence across the healthcare continuum, especially to the underserved population by enabling greater access to lifesaving treatments.
Cipla is a global pharmaceutical company which uses cutting edge technology and innovation to meet the everyday needs of all patients.
