January 20, 2021
×
Laurus Labs Ltd has completed the acquisition of 72.55 per cent stake in Richcore Lifesciences Private Ltd.
In November last year, Hyderabad based Laurus inked a definitive agreements with the sellers, i.e. Eight Roads Ventures and VenturEast Proactive Fund and VenturEast Life Fund III etc., to acquire 72.55 pc stake in Bengaluru based Richcore Lifesciences for ₹247 crore.
``We wish to update that the Company on January 20, 2021 has completed the transaction as per the definitive agreements, Laurus Labs informed the Bombay Stock Exchange on Wednesday.
More
With the closure of the transaction, Richcore Lifesciences has become a subsidiary of Laurus.
Read more about Healthcare shares soar on Business Standard. Healthcare stocks were trading in the positive zone, with the S&P BSE Healthcare index rising 194.3 points or 0.9% at 21774.89 at 09:48 IST.
Healthcare stocks were trading in the positive zone, with the S&P BSE Healthcare index rising 194.3 points or 0.9% at 21774.89 at 09:48 IST. Among the components of the S&P BSE Healthcare index, Lincoln Pharmaceuticals Ltd (up 4.06%), Aurobindo Pharma Ltd (up 2.73%),J B Chemicals & Pharmaceuticals Ltd (up 2.36%),FDC Ltd (up 2.29%),Shalby Ltd (up 1.89%), were the top gainers. Among the other gainers were Sun Pharma Advanced Research Company Ltd (up 1.87%), Laurus Labs Ltd (up 1.76%), Fortis Healthcare Ltd (up 1.75%), Alembic Ltd (up 1.63%), and Thyrocare Technologies Ltd (up 1.53%). On the other hand, Narayana Hrudayalaya Ltd (down 1.53%), Bliss GVS Pharma Ltd (down 1.22%), and Granules India Ltd (down 0.99%) moved lower.