Pharmaids Pharmaceuticals touches roof on getting nod to acquire stake in Adita Bio Sys
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Pharmaids Pharmaceuticals is currently trading at upper limit of Rs. 65.20, up by 3.10 points or 4.99% from its previous closing of Rs. 62.10 on the BSE.
The scrip opened at Rs. 65.20 and has touched a high and low of Rs. 65.20 and Rs. 63.00 respectively. So far 61886 shares were traded on the counter.
The BSE group 'XT' stock of face value Rs. 10 has touched a 52 week high of Rs. 65.20 on 08-Jan-2024 and a 52 week low of Rs. 19.69 on 10-Apr-2023.
Last one week high and low of the scrip stood at Rs. 65.20 and Rs. 51.11 respectively. The current market cap of the company is Rs. 139.66 crore.
The promoters holding in the company stood at 9.70%, while Non-Institutions held 90.30% stake in the company.
Pharmaids Pharmaceuticals has received approval for the purchase of up to 36,75,959 equity shares of Adita Bio Sys (target company) held by multiple existing shareholders of the company, which will result in acquisition of upto 99.94% of the paid-up equity share capital of the target company, by way of share swap. The Board has also approved the execution of definitive agreements to give effect to the above.
The acquisitions of the shares of Adita Bio Sys result in growth opportunities in line with strategic objectives of the Company. The acquisition of the target entity is within the main line of business of the listed entity. The Board of Directors of the company at its Meeting held on January 6, 2024, has approved the same.
Pharmaids Pharmaceuticals is engaged in the business of trading and manufacturing of generics, bulk drugs and intermediaries etc.
