Aurobindo Pharma to invest in Synergy Remedies

The investment will be done by subscribing to additional equity shares of the said company

Feb 08, 2019 09:02 IST India Infoline News Service

Aurobindo Pharma in its filing to the exchanges informed that the company has inked a share subscription agreement to invest Rs15cr in Synergy Remedies Private Limited (Synergy), a Tirupathi based pharma company.

The investment will be done by subscribing to additional equity shares of the said company. "After making the said investment, the company will be holding 19.9% of the share capital of Synergy," the company said in a press note after market hours to the exchanges on Thursday.

Moreover, the company has approved a Second Interim Dividend at 125% that is Rs1.25/equity share of Rs1/each on the equity share capital of the company for FY19. The company has fixed February 19, 2019, as the Record Date for the purpose of payment of Second Interim Dividend and the same will be paid on or before February 28, 2019.

Aurobindo Pharma Ltd's share price is currently at Rs785, up by Rs6.25 or 0.8%, from its previous close of Rs778.75 on the BSE.
The scrip opened at Rs790 and has touched a high and low of Rs790 and Rs784.40, respectively. So far, 75,280 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs45,627.56cr.

Related Story