Themis Medicare Ltd to transfer API business

The board of directors of Themis Medicare Ltd has approved an "Agreement to Sell" to be entered into by the Company with Themis Lifestyle Private Limited ("Transferee Company") for the transfer of the Active Pharmaceutical ingredients ("API") business of the Company, including the manufacturing facilities of the Company at : (a) Vapi, Valsad District, Gujarat and (b) Jeedimetla, Malkajgiri District, Telangana, to the Transferee Company, a subsidiary of the Company (to be converted into a wholly owned subsidiary) ("Agreement") on a going concern basis.

The API business of the company contributed Rs. 135.67 Crores (34%) of the total [turnover or revenue or income] and Rs.114.69 Crores (47.10%) of the total net worth of the Company as on March 31, 2022.

The Transferee Company is a subsidiary of the Company which will converted into a wholly owned subsidiary of the Transferor Company.

Shares of Themis Medicare Limited was last trading in BSE at Rs. 896.20 as compared to the previous close of Rs. 942.85. The total number of shares traded during the day was 3305 in over 178 trades.

The stock hit an intraday high of Rs. 963.00 and intraday low of 881.00. The net turnover during the day was Rs. 2981527.00.

Source : Equity Bulls

Keywords

ThemisMedicare INE083B01016 APIBusiness Sale ThemisLifestyle