IPCA Laboratories Ltd increases stake in Trophic Wellness Private Ltd to 52.35%

IPCA Laboratories Ltd has acquired further 13.09% of the paid-up equity share capital of M/s. Trophic Wellness Private Ltd. (TWPL), a company incorporated under the Companies Act, 1956 and engaged in the business of manufacturing and marketing several SKUs of Neutraceuticals under the brand name "Nutricharge".

With this acquisition of these 13.09% of the equity share capital, the said M/s. Trophic Wellness Pvt. Ltd. has become a subsidiary of the Company. The Company now holds 52.35% of the paid-up equity share capital of TWPL.

With the acquisition of these further shares, TWPL has now become Company's subsidiary. This will help the Company to grow its neutraceuticals portfolio and business.

The acquisition was done through cash consideration of Rs. 21.20 crores for the additional acquisition of 13.09% shareholding of TWPL - 5,30,000 equity shares @ Rs. 400/- per share.

Shares of IPCA LABORATORIES LTD. was last trading in BSE at Rs.2061.45 as compared to the previous close of Rs. 2037. The total number of shares traded during the day was 7908 in over 923 trades.

The stock hit an intraday high of Rs. 2061.45 and intraday low of 2033.4. The net turnover during the day was Rs. 16165422.

Source : Equity Bulls

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