Shilpa Medicare jumps as its arm to form new joint venture company in Saudi Arabia
Shilpa Medicare is currently trading at Rs. 843.95, up by 20.50 points or 2.49% from its previous closing of Rs. 823.45 on the BSE.
The scrip opened at Rs. 823.00 and has touched a high and low of Rs. 848.00 and Rs. 803.00 respectively. So far 3170 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 1 has touched a 52 week high of Rs. 1003.20 on 16-Jun-2025 and a 52 week low of Rs. 530.50 on 07-Apr-2025.
Last one week high and low of the scrip stood at Rs. 880.00 and Rs. 803.00 respectively. The current market cap of the company is Rs. 8253.06 crore.
The promoters holding in the company stood at 44.23%, while Institutions and Non-Institutions held 18.64% and 37.13% respectively.
Shilpa Medicare’s wholly owned subsidiary -- Koanna International FZ LLC, UAE (Koanna) has entered into a definitive agreement with Pharma Pharmaceutical Industries & Biological Products (PPI), a prominent Saudi enterprise to form a new joint venture company based in the Kingdom of Saudi Arabia to build a New Pharma Manufacturing Facility in Saudi Arabia.
Leveraging their respective strengths, PPI will contribute its local market expertise, while the Shilpa Group will provide global R&D, manufacturing, and regulatory capabilities. The new limited liability company will be majority owned by PPI (70%), with Koanna holding a 30% stake. The venture represents a significant step in Saudi Arabia's healthcare infrastructure and aligns with the Kingdom's Vision 2030 goals of economic diversification and localizing strategic industries.
Shilpa Medicare produces and exports consistently high-quality Active Pharmaceutical Ingredients Fine Chemicals, intermediates, herbal products and speciality chemical products using sophisticated technology, meticulously following international specifications.
