Laurus Labs Ltd updates on merger of two foreign subsidiaries

M/s. Laurus Synthesis Inc. USA (100% Wholly Owned Subsidiary of Laurus Labs Ltd) has been merged with M/s. Laurus Generics Inc. USA (Step-down Subsidiary of the Company) with effect from September 30, 2020.

For 30,000 ordinary shares of USD 100/- each of Laurus Synthesis Inc., 6,100 ordinary shares of USD 100/- each of Laurus Generics Inc., have been allotted thereby the share exchange ratio worked out to 1:0.2033.

Shares of Laurus Labs Ltd was last trading in BSE at Rs.280.4 as compared to the previous close of Rs. 287.05. The total number of shares traded during the day was 134091 in over 4841 trades.

The stock hit an intraday high of Rs. 293 and intraday low of 277. The net turnover during the day was Rs. 38007502.

Source : Equity Bulls

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