Laurus Labs Ltd completes acquisition of 72.55% in Richcore Lifesciences Pvt Ltd

Laurus Labs Ltd had earlier announced regarding signing of definitive agreements with the Sellers i.e. Eight Roads Ventures and VenturEast Proactive Fund and VenturEast Life Fund III etc., to acquire 72.55% stake in Richcore Lifesciences Private Limited ("Richcore"), a Biotechnology Company. The Company on January 20, 2021 (i.e, Today) has completed the transaction as per the definitive agreements.

With this transaction and effective from today, M/s. Richcore Lifesciences Private Limited has become a "Subsidiary Company" of the Company with 72.55% holding of total stake of Richcore by the Company.

Shares of Laurus Labs Ltd was last trading in BSE at Rs.371.95 as compared to the previous close of Rs. 363.05. The total number of shares traded during the day was 132947 in over 4335 trades.

The stock hit an intraday high of Rs. 377.05 and intraday low of 365. The net turnover during the day was Rs. 49576249.

Source : Equity Bulls

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