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ANG Lifesciences India Ltd to acquire assets from Ind-Swift Ltd for Rs. 60 crore
Posted On : 2021-08-17 19:51:36( TIMEZONE : IST )
ANG Lifesciences India Limited has executed an Asset Purchase Deal with Ind-Swift Limited for acquisition of Two Formulation Manufacturing Facilities for INR 60 Cr. payable through internal accrual & bank funding on deferred payment basis up to 30-Jun-2024, located at Baddi (HP). The plants are now running as Unit 5 & Unit 6 of ANG Lifesciences India Limited respectively. The said acquisition has helped in scaling up ANG's manufacturing capacity to meet the growing demand from domestic as well as international markets.
This acquisition is in line with ANG's long-term strategic objective to become a complete Healthcare Solution Provider aimed at creating a broad-based basket of Pharmaceutical Formulation Products for a differentiated and comprehensive profile in pharmaceutical markets.
The Plant (Unit 3 of Ind-Swift Limited) is located adjacent to ANG's flagship plant spread over an area of 2.85 Acres having a state of the art facility for formulation manufacturing comprising of about more than 2.5 Lac Sq. Ft. Covered area and having different manufacturing formulations with integrated utilities.
The Company expects a potential sales turnover of Rs.350-500 Cr. with 100% capacity utilization basis from this plant.
The plant (Unit 4 of Ind-Swift Limited) is Located adjacent to ANG's flagship plant spread over an area of 7.2 Acres having a state of the art facility for formulation manufacturing comprising of about more than 1 Lac Sq. Ft. Covered area and having different manufacturing formulations with integrated utilities.
The Company expects a potential sales turnover of Rs.100-120 Cr. with 100% capacity utilization basis from this plant. This unit has surplus land available for setting up of new formulation facilities and for further expansion in future.
Shares of ANG Lifesciences India Limited was last trading in BSE at Rs. 527 as compared to the previous close of Rs. 507.55. The total number of shares traded during the day was 9600 in over 6 trades.
The stock hit an intraday high of Rs. 532 and intraday low of 520. The net turnover during the day was Rs. 5055760.
