Pharmaids Pharmaceuticals has received approval for the purchase of up to 36,75,959 equity shares of Adita Bio Sys (target company) held by multiple existing shareholders of the company, which will result in acquisition of upto 99.94% of the paid-up equity share capital of the target company, by way of share swap. The Board has also approved the execution of definitive agreements to give effect to the above.
The acquisitions of the shares of Adita Bio Sys result in growth opportunities in line with strategic objectives of the Company. The acquisition of the target entity is within the main line of business of the listed entity. The Board of Directors of the company at its Meeting held on January 6, 2024, has approved the same.
Pharmaids Pharmaceuticals is engaged in the business of trading and manufacturing of generics, bulk drugs and intermediaries etc.
| Company Name | CMP |
|---|---|
| Sun Pharma Inds. | 1665.25 |
| Dr. Reddys Lab | 1220.75 |
| Cipla | 1232.90 |
| Zydus Lifesciences | 928.85 |
| Lupin | 2311.75 |
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