Alkem Laboratories Limited (the 'Company') has acquired an undertaking ('Undertaking'), as a whole and on a going and running concern basis from Cachet Pharmaceuticals Private Limited, a subsidiary of the Company.
The Company was getting some of its liquid products like syrups, etc. manufactured from the said Undertaking and was procuring other liquid items from other parties as the Company did not have any undertaking to produce liquid pharmaceutical products. Hence, it was proposed to acquire the said Undertaking with a view to manufacture most of its requirement of liquid products at one place for better control over the quality of the products and timely supplies of the products by the Company.
The cost of acquisition is Rs. 51,85,00,000/- (Rupees Fifty-One Crores Eighty-Five Lakhs only).
Shares of Alkem Laboratories Ltd was last trading in BSE at Rs.1947.4 as compared to the previous close of Rs. 1866.15. The total number of shares traded during the day was 1794 in over 461 trades.
The stock hit an intraday high of Rs. 1965 and intraday low of 1866.15. The net turnover during the day was Rs. 3439368.