Specialty chemicals company Sudarshan Pharma Industries Ltd has informed the stock exchange that its board has approved the acquisition of Ishwari Healthcare Private Limited, which is involved in the medical and surgical instruments business.
The company said the board has approved the acquisition of 2,09,200 equity shares of Rs 10 each.
“…authorized to acquire 2,09,100 shares of Rs10 each of Ishwari Healthcare Private Limited which is equivalent to 51 percent of the company’s paid-up share capital and enter into a Share Purchase Agreement. After completion of the acquisition, Ishwari Healthcare will become a owned by the company,” it read.
Meanwhile, the company recently announced a stock split.
According to an exchange filing, the company’s board met recently to consider a proposal for sub-division / split of equity shares, which currently have a face value of Rs 10 each. The split will be effective at a ratio of 10:1. It means that each stock of face value of Rs 10 will be divided into 10 shares of Re 1 each.
Meanwhile, equity benchmarks rose in early trade on Tuesday amid buying in IT and banking stocks and a sharp drop in Brent crude oil prices.
The BSE Sensex rose 327.39 points to 82,300.44 in early trade. The NSE Nifty rose 84.1 points to 25,212.05.
Of the 30 Sensex firms, Asian Paints, Bharti Airtel, Infosys, Mahindra & Mahindra, Titan, Bajaj Finance, HCL Technologies and ICICI Bank were among the top gainers .
IT services major HCL Technologies (HCLTech) on Monday reported a 10.51 per cent rise in consolidated profit to Rs 4,235 crore in the July-September quarter of FY25, as the company raised the lower band of its growth guidance after better-than-expected performance.