Bharat Parenterals surges on planning to acquire additional stake in Innoxel Lifesciences

Bharat Parenterals is currently trading at Rs. 1376.90, up by 38.70 points or 2.89% from its previous closing of Rs. 1338.20 on the BSE.

The scrip opened at Rs. 1405.00 and has touched a high and low of Rs. 1405.00 and Rs. 1350.00 respectively. So far 6 shares were traded on the counter.

The BSE group ‘XT’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1824.70 on 30-Apr-2024 and a 52 week low of Rs. 350.80 on 07-Jun-2023.

Bharat Parenterals

Last one week high and low of the scrip stood at Rs. 1424.90 and Rs. 1300.00 respectively. The current market cap of the company is Rs. 778.79 crore.

The promoters holding in the company stood at 73.27%, while Institutions and Non-Institutions held 0.01% and 26.73% respectively.

Bharat Parenterals is planning to acquire additional 99,85,477 equity shares having Face value Rs 10 per share with a premium of Rs 54.90 per share aggregating of Rs 64.90 per share of Innoxel Lifesciences, a Subsidiary company of the company on a preferential basis. The Investment is made for expansion of existing plant and working capital requirement of the Subsidiary Company. The said acquisition is expected to be completed by June 30, 2024 subject to approval of shareholders.