Laurus Labs Limited acquires stake in Laurus Bio Private Limited

The Board of Directors of Laurus Labs Limited at its meeting held today (i.e. on September 11, 2023) have accorded its final approval for acquisition of 37,641 equity shares of face value of Rs.10/- each of Laurus Bio Private Limited through secondary purchase of shares from one of the Promoters and non-executive director and his family members and also from few Employee/ex-Employee shareholders for an aggregate amount of Rs.71.60 Crores.

Pursuant to the above acquisition, the stake of the Company in Laurus Bio Private Limited shall reach to 87.58% on fully diluted basis (including outstanding ESOPs and the Share Warrants).

Shares of Laurus Labs Limited was last trading in BSE at Rs. 406.85 as compared to the previous close of Rs. 410.30. The total number of shares traded during the day was 127056 in over 3701 trades.

The stock hit an intraday high of Rs. 415.05 and intraday low of 405.40. The net turnover during the day was Rs. 52106973.00.

Source : Equity Bulls

Keywords

LaurusLabs INE947Q01028 Pharmaceuticals Acquisition LaurusBio