Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Stock Report

| More

PI Industries Limited to acquire API business division of Ind Swift Laboratories Ltd

Posted On: 2021-07-31 04:25:06 (Time Zone: UTC)

PI Industries Limited has executed a business transfer agreement with Ind Swift Laboratories Limited (ISLL) and certain identified promoters of ISLL for acquisition (either itself or through its affiliate) of API business division of ISLL by way of a slump sale on a going concern basis.

The parties have agreed that the enterprise value of the API business division on a debt free and cash free basis shall be INR 1530 crs. The agreed enterprise value shall be subject to adjustments on account of working capital, dues of lenders and unfunded employee liabilities.

ISLL is engaged in the business of manufacturing and Export of Active Pharmaceutical Ingredients (API) and Advanced Intermediates. Company cater to the API needs of regulated and Soft Regulated Markets. The Manufacturing Facilities of the Company are accredited from all regulatory agencies including USFDA, EDQM, PMDA, ANVISA, EU-GMP, KFDA, NMO, ANSM, Cofepris, TGA, WHO, ROW.

PI Industries Limited (PI) expects to create significant value by leveraging combined capabilities and unlock synergies. The API business of ISLL has diversified portfolio of 20+ products with leadership position (global top 5) in several of them and a good R&D product pipeline. PI has also developed strong R&D pipeline of products and complementary technologies over last few years. Introduction of new and cutting-edge technologies will also enable building a differentiated and sustainable relationship with global customers backed by quality and efficiency.

Subject to satisfactory completion of the conditions precedent as provided under the BTA, the parties aim to achieve the closing of the transaction in an efficient and expeditious manner, within 3 (three) months from the date of execution of the agreement.

Shares of PI Industries Ltd was last trading in BSE at Rs. 2971.9 as compared to the previous close of Rs. 2948.95. The total number of shares traded during the day was 19449 in over 2696 trades.

The stock hit an intraday high of Rs. 3007.1 and intraday low of 2920. The net turnover during the day was Rs. 57737631.

Shares of IND-SWIFT LABORATORIES LTD. was last trading in BSE at Rs. 113 as compared to the previous close of Rs. 111.7. The total number of shares traded during the day was 149087 in over 2720 trades.

The stock hit an intraday high of Rs. 116.25 and intraday low of 111.5. The net turnover during the day was Rs. 17024451.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

InterGlobe Aviation Ltd updates on arbitral award

B N Rathi Securities Limited board approves rights issue

Orient Cement Ltd to explore setting up of Cement Grinding Unit at Tiroda, Maharashtra

NBCC India Ltd secures work order at Hulhumale, Maldives

Dalmia Cement Bharat Ltd commences commercial production of Line 2 at its Kapilas Cement Manufacturing Works, Cuttack

Century Plyboards India Ltd increases stake in Century Infotech Ltd to 99.99%

Nucleus Software Exports Limited board approves buy back at Rs. 700 per share

NHPC Ltd to form subsidiary

EKI Energy Services Ltd opens 3 new International Business Points

SJVN bags 1000 MW Solar PV Power Project

Sun TV Network Ltd announces resignation of Mr. J Ravindran

Modern Steels Ltd announces disruption at its plant

Trimurthi Ltd gets Rs. 25 lakhs claim from defaulted broker

Sanrhea Technical Textiles Ltd board to consider preferential issue on Sep 30, 2021

Indiabulls Housing Finance Ltd raises ₹ 251 crores by selling part of its stake in OakNorth Holdings Ltd

Xelpmoc Design and Tech Ltd has sold its stake in Madworks Ventures Pvt Ltd

TPL Plastech Ltd allots 78,00,300 Equity Shares

Unison Metals Ltd to invest in Chandanpani Pvt Ltd

JSW Energy Limited's JV updates on rating

Axis Bank Ltd board to approve Q2, H1FY22 results on Oct 26, 2021

Shree Rama Newsprint Ltd to resume paper division production from Sep 27, 2021

Ramkrishna Forgings Ltd wins yet another Export order worth INR 300 Million per annum from North America in Oil & Gas segment

Huhtamaki India Ltd announces resignation of MD

Trident Sends Gift Vouchers to over 8.25 Lakhs Shareholders, this Festive Season

Cadila Healthcare Limited enters into an agreement with Shilpa Medicare Limited for the production of ZyCoV-D vaccine

ICICI Bank Ltd board to consider Q2FY22, H1FY22 results on Oct 23, 2021

IIFL Finance to raise up to Rs. 1,000 crore via secured NCDs, offers up to 8.75% yield

ANG Lifesciences India Ltd allots 51,83,315 shares

Shilpa Medicare Limited ties up with Cadila Healthcare Ltd for production of ZyCoV-D vaccine

Gayatri Projects Ltd wins arbitration for expressway in Hyderabad City

Caplin Point Laboratories's CRO Amaris Clinicals completes USFDA audit with zero observations

PSP Projects Ltd bags orders worth Rs. 421.87 crores

Ircon International Ltd wins bid to set up 500 MW solar power plant

Zydus Cadila receives final approval from USFDA for Apremilast Tablets

Aurionpro unveils 'AuroPay', a payment platform offering wide range of services in payment domain

CRISIL upgrades rating of Minda Corporation Ltd

Affle India Ltd gets shareholders approval for stock split

Indiabulls Housing Finance Limited has repaid ₹ 7,075.84 Crores of NCDs to investors in September 2021

MoD promulgates framework for increased utilisation of simulators by the three Services & Indian Coast Guard

Kaya Ltd appoints Mr. Rajiv Suri as Global CEO

Suumaya Corporation Ltd announces bonus in the ratio of 2:1

GR Infraprojects Ltd receives LoA for new project

Forbes Asia names Persistent to its 'Best Under A Billion' 2021 List

Aditya Birla Capital Ltd updates on IPO of Aditya Birla Sun Life AMC Ltd

ICRA upgrades rating of Windlas Biotech Limited

Vedanta Limited to delist ADS from NYSE

Dilip Buildcon Limited appointed as mine developer through SC order

Karur Vysya Bank revises base rate, BPLR from Sep 24, 2021

Hero MotoCorp updates on welfare package for Covid-19 families in Rajasthan

Ashoka Buildcon Ltd acquires 60% stake in Ashoka Bettadahalli Shivamogga Road Private Limited

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020