ANG Lifesciences India Ltd acquires Mansa Print & Publishers Ltd located at Baddi

ANG Lifesciences India Limited has acquired a company named "Mansa Print & Publishers Limited" located at Baddi which had undergone Corporate Insolvency Resolution Plan in National Company Law Tribunal, Chandigarh. The Company is engaged in printing and packaging business covering manufacturing of packaging products including Carton's, Corrugated boxes, Aluminum foil etc.

In addition to this, it has separate stationery division with high-tech machinery giving the good business opportunity. The company has gone for the acquisition primarily for the following reasons:

- It is a strategic backward integration move for the company since it is expanding at a fast pace in the pharma segment. The packaging cost in formulation segment is almost 15-20% of the cost of product. It will be helpful for the company to optimize costs and ensure timely availability of packaging products for formulation business.

- The acquisition holds a good potential for growth and profitability in the Baddi region, being a pharma hub.

- The plant comprises of excellent manufacturing set up with the best of the machinery infrastructure.

- The company will also be able to leverage fully automated excellent infrastructure for stationery products in the market.

The Company has acquired above infrastructure at a very economical cost under Corporate Insolvency Resolution Plan.

Shares of ANG Lifesciences India Ltd was last trading in BSE at Rs.88 as compared to the previous close of Rs. 85.8. The total number of shares traded during the day was 1600 in over 1 trades.

The stock hit an intraday high of Rs. 88 and intraday low of 88. The net turnover during the day was Rs. 140800.

Source : Equity Bulls

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