Motilal Oswal Financial Services Ltd to invest in Gufic Biosciences Ltd

The Finance Committee of Motilal Oswal Financial Services Limited ("MOFSL" or "the Company") at its Meeting held today i.e. September 01, 2023 has approved the proposal to make an investment in Gufic Biosciences Limited ("Gufic"/"the Investee Company") in lines with MOFSL's fund based investment strategy. The said investment will be made by acquiring and/or subscribing to 33,33,000 Equity Shares having face value of Re. 1/- each at Rs. 300/- per Share for a consideration of Rs. 99.99 Crore contributing to 3.32% of the post paid-up share capital of Gufic by way of Preferential issue.

Gufic is engaged in the Research & Development, manufacturing, marketing, distribution and sale of pharmaceutical and allied products. This acquisition is a long term financial investment of the Company in line with its Fund Based Investments strategy.

Gufic was incorporated on July 23, 1984 in Maharashtra, India. Gufic is engaged in the R&D, manufacturing, marketing, distribution and sale of pharmaceutical and allied products. Gufic is known and respected for innovative and high quality pharmaceutical and herbal products along with a wide range of Active Pharmaceutical Ingredients (APls). Gufic is one of the fastest growing company among the top 100 pharma companies in India and is also one of the largest manufacturers of Lyophilized injections in India having a fully automated lyophilization plant. The lyophilized products are available in Therapeutic areas like Antibiotic, Antifungal, Cardiac, Infertility, Antiviral and Proton-Pump Inhibitor (PPI). Gufic is now augmenting its global focus by deepening the presence in the priority markets of India, Germany, Switzerland, South Africa, Russia, Canada, Europe and other key countries within the emerging market territories. Gufic aims at providing lifesaving drugs to people at affordable prices with no compromise in its quality. Gufic is a WHO-GMP, EU GMP, ANVISA Brazil, Russian GMP, Health Canada, Ukraine GMP, Australia TGA, Colombia INVIMA and Uganda NDA approved company with a total capacity of 48 million lyophilized vials per annum.

Shares of Gufic Biosciences Limited was last trading in BSE at Rs. 308.70 as compared to the previous close of Rs. 300.25. The total number of shares traded during the day was 35127 in over 872 trades.

The stock hit an intraday high of Rs. 312.00 and intraday low of 302.75. The net turnover during the day was Rs. 10782153.00.

Shares of Motilal Oswal Financial Services Limited was last trading in BSE at Rs. 918.75 as compared to the previous close of Rs. 901.65. The total number of shares traded during the day was 14873 in over 1287 trades.

The stock hit an intraday high of Rs. 924.75 and intraday low of 890.55. The net turnover during the day was Rs. 13514185.00.

Source : Equity Bulls

Keywords

GuficBiosciences INE742B01025 MotilalOswalFinancialServices INE338I01027 Investment