This pharma company acquired 55% shares in a chemical company

This pharma company acquired 55% shares in a chemical company

by 5paisa Research Team Last Updated: Apr 24, 2023 - 11:41 am 895 Views
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The company acquired is in line with the inorganic growth strategy of expansion.

About the acquisition 

Ami Organics has received approval for the acquisition of 55% partnership interest in the partnership firm i.e., Baba Fine Chemicals (BFC) on a going concern basis from the partners of BFC, Ram Bilas Sharma and Kavita Bhatia, for a total purchase consideration of Rs 68.21 crore subject to adjustments as may be required at closing stage (Purchase Consideration).

The acquisition of Partnership Interest is in line with the inorganic growth strategy of expanding further into the speciality chemicals sector of the company and it believes that the acquisition significantly complements its existing product portfolio. The Board of Directors of the Company at its meeting held on April 22, 2023, has, approved the same.

Share price movement 

Ami Organics is currently trading at Rs 1,072.75, up by 12.95 points or 1.22% from its previous closing of Rs 1059.80 on the BSE.

The scrip opened at Rs 1082.05 and has touched a high and low of Rs 1099 and Rs 1066 respectively. So far 12,857 shares were traded on the counter.

The BSE group 'A' stock of face value of Rs 10 has touched a 52-week high of Rs 1,182.40 and a 52-week low of Rs 826. The current market cap of the company is Rs 3,908.60 crore.

The promoters holding in the company stood at 39.41%, while Foreign Institutions and Domestic Institutions held 6.36% and 3.63% respectively.

Company profile 

Ami Organics is a research and development (R&D) driven manufacturer of speciality chemicals with varied end usage, focused towards the development and manufacturing of advanced pharmaceutical intermediates (Pharma Intermediates) for regulated and generic active pharmaceutical ingredients (APIs) and New Chemical Entities (NCE) and key starting material for agrochemical and fine chemicals, especially from its recent acquisition of the business of Gujarat Organics (GOL) (Acquisition). 

The company is one of the major manufacturers of Pharma Intermediates for certain key APIs, including Dolutegravir, Trazodone, Entacapone, Nintedanib and Rivaroxaban. The Pharma Intermediates which it manufactures, find application in certain high-growth therapeutic areas including anti-retroviral, anti-inflammatory, anti-psychotic, anti-cancer, anti-Parkinson, anti-depressant and anti-coagulant, commanding significant market share both in India and globally.

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