3B BlackBio Biotech India Ltd completes acquisition of 70% in HS Biolabs Ltd

3B BlackBio Biotech India Limited, subsidiary of Kilpest India Ltd has completed the acquisition of 70% equity stake in HS Biolabs Ltd., Manchester, United Kingdom.

As per the terms of Joint Venture Agreement entered between 3B BlackBio Biotech India Limited & HS Biolabs Limited, Mr. Dhirendra Dubey and Mr. Nikhil Kuber Dubey have been appointed as Directors in the HS Biolabs Ltd.

The rebranding of HS Biolabs Ltd to make it "TRUPCR Europe Limited" has been initiated and it shall be completed in some time.

The company has already taken space for setting up of separate facilities for R&D and production. The necessary infrastructure and instrumentation are being setup and it shall be completed soon. The company has also started the recruitment process which is ongoing.

The company would be able to realize major success from the subsidiary and efforts by an increase in export sales and R&D outcomes in the Financial Year 2022-23.

Shares of KILPEST INDIA LTD. was last trading in BSE at Rs. 363.95 as compared to the previous close of Rs. 375.80. The total number of shares traded during the day was 16140 in over 668 trades.

The stock hit an intraday high of Rs. 385.80 and intraday low of 360.00. The net turnover during the day was Rs. 5888113.00.

Source : Equity Bulls

Keywords

KILPESTINDIA INE994E01018 3BBlackBioBiotechIndia Acquisition HSBiolabs UK