FDC has received an approval to purchase 100% equity shares of ASL, from its erstwhile shareholders, for a total consideration of Rs 6.43 crore. Pursuant to the purchase, ASL will become a wholly owned subsidiary of the company. The board at its meeting held on October 15, 2011 has approved for the same based on valuation of independent valuers.
Further, ASL does not have any substantial operations but it owns a property at Dombivali admeasuring 81,855 square feet. FDC proposes to use this property for its business operations.
FDC is engaged in bulk drugs, formulations and food products. It has a presence in numerous therapeutic segments such as anti-infectives, dermatologicals, respiratory, haematinics and ophthalmics. ASL is an unlisted public company.
| Company Name | CMP |
|---|---|
| Sun Pharma. Inds. | 1941.00 |
| Dr. Reddys Labs. | 1152.60 |
| Cipla | 1410.90 |
| Lupin | 2369.45 |
| Zydus Lifesciences | 1108.90 |
| View more.. | |
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