IPCA Lab open offer for stake in Krebs Bio at Rs. 54

Ipca Laboratories is currently trading at Rs. 758.25, down by Rs. 13.65 or 1.77% from its previous closing of Rs. 771.9 on the BSE.

Krebs Biochemicals & Industries Ltd has submitted to BSE a copy of Recommendation of Committee of Independent Directors (IDC) on the Open Offer to the Equity Shareholders of Krebs Biochemicals and Industries Ltd ("Target Company/TC") by Ipca Laboratories Ltd ("the Acquirer") for acquisition of 35,73,515 Equity Shares under Regulations 3(1) and 4 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (" SEBI SAST Regulations").

Ipca Laboratories Ltd is currently trading at Rs. 758.25, down by Rs. 13.65 or 1.77% from its previous closing of Rs. 771.9 on the BSE.

The scrip opened at Rs. 770 and has touched a high and low of Rs. 772.75 and Rs. 754.35 respectively. So far 150236(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 9741.38 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 888 on 19-Aug-2015 and a 52 week low of Rs. 591.25 on 09-Feb-2015. Last one week high and low of the scrip stood at Rs. 801.05 and Rs. 750 respectively.

The promoters holding in the company stood at 45.89 % while Institutions and Non-Institutions held 30.57 % and 23.53 % respectively.

The stock is currently trading above its 50 DMA.