The Board of Directors of SMS Lifesciences India Limited at their meeting held on today, considered the Due-Diligence Report and approved the acquisition of M/s Mahi Drugs Private Limited, an API manufacturing company, situated at IN Pharma City, Vishakhapatnam.
Further, the Board approved the Share Purchase agreement and authorized Mr.TWSN Murthy, Managing Director, to execute the same on behalf of the Company and take all the necessary steps for completion of the acquisition.
The Meeting commenced at 12.30 PM and concluded at 2.45 PM.
Shares of SMS Lifesciences India Ltd was last trading in BSE at Rs.417.5 as compared to the previous close of Rs. 415. The total number of shares traded during the day was 68 in over 8 trades.
The stock hit an intraday high of Rs. 417.5 and intraday low of 401. The net turnover during the day was Rs. 28163.