Sandu Pharmaceuticals board approves incorporation of wholly-owned subsidiary

15 Feb 2022 , 11:26 AM

Sandu Pharmaceuticals Ltd has informed that the Board of Directors at their Meeting held on February 14, 2022 have approved incorporation of a wholly owned subsidiary of the Company.

As per regulatory filing, the name of the subsidiary is Sandu Phytoceuticals Private Limited or any other name as may be approved by Ministry of Corporate Affairs. Proposed Authorized Capital is Rs1 lakh only.

Further, the Incorporation of the wholly owned subsidiary will leverage the growth opportunities and will help the Company in becoming more broad based and focused, said company on Monday.

At around 11:30 AM, Sandu Pharmaceuticals was trading at Rs57.10 apiece down by Rs0.45 or 0.78% against its previous closing of Rs57.55 apiece on the BSE.