Entero Healthcare Solutions jumps on getting nod to acquire 80% stake in Avenir Lifecare Pharma
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Entero Healthcare Solutions is currently trading at Rs. 1093.00, up by 13.70 points or 1.27% from its previous closing of Rs. 1079.30 on the BSE.
The scrip opened at Rs. 1085.00 and has touched a high and low of Rs. 1093.00 and Rs. 1071.00 respectively. So far 1355 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1258.00 on 16-Feb-2024 and a 52 week low of Rs. 974.45 on 28-Mar-2024.
Last one week high and low of the scrip stood at Rs. 1180.00 and Rs. 1071.00 respectively. The current market cap of the company is Rs. 4748.21 crore.
The promoters holding in the company stood at 52.44%, while Institutions and Non-Institutions held 25.58% and 21.99% respectively.
Entero Healthcare Solutions has received approval to execute the definitive agreements to acquire 80% paid-up equity share capital of Avenir Lifecare Pharma (ALPPL). The business of ALPPL is in line of the business of the Company i.e. wholesale distribution of pharmaceutical and other allied products and the acquisition of ALPPL by the company shall enable the Company to expand its business in the State of Telangana and thereby enabling the company to generate additional business and revenue on consolidated basis. The acquisition shall be completed by May 31, 2024. The Board of Directors of the company at their meeting held on May 6, 2024 has approved the same.
Entero Healthcare Solutions is a distributor of healthcare products in India. The company's technology-driven platform provides healthcare product distribution services to pharmacies, hospitals, and clinics throughout India.
