Shilpa Medicare Limited approves sale of Loba Feinchemie GMBH

The Board of Directors of Shilpa Medicare Limited at its meeting held on 31st March, 2021, approved the sale of Loba Feinchemie GMBH (a company in Austria), a Step Down Wholly Owned Subsidiary of the Company and to enter into share purchase agreement thereto.

The turnover of Loba Feinchemie GMBH for the FY 2019-20 comes to 5.53% (INR 50.19 Cr.) to consolidated turnover of Shilpa Medicare Limited (INR 908 Cr.) The net-worth of Loba Feinchemie GMBH as on 31st March, 2020 comes to 1.52 % (INR 20.19 Cr) to consolidated net-worth of Shilpa Medicare Limited (INR 1321 Cr.)

Total consideration to be received from the above sale is Euro 3.3 Million (approx. INR.28 crores.)

Shares of SHILPA MEDICARE LTD. was last trading in BSE at Rs.331.2 as compared to the previous close of Rs. 335.65. The total number of shares traded during the day was 8617 in over 741 trades.

The stock hit an intraday high of Rs. 340.35 and intraday low of 330.5. The net turnover during the day was Rs. 2886137.

Source : Equity Bulls

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