iifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Asahi Songwon spurts ~6% on acquisition of 100% stake in Atlas Life Sciences

18 Apr 2022 , 03:33 PM

Asahi Songwon’s counter gained nearly 7% so far in today’s trade as the company completes the first tranche of acquisition of a 78% stake in Atlas Life Sciences Private Limited (ALSPL).

The company has informed that it has executed a Share Purchase Agreement today, i.e., April 18, 2022, with Atlas Life Sciences and certain identified promoters of ALSPL for the acquisition of a 100% stake in ALSPL in three tranches from certain identified promoters and other shareholders of ALSPL.

Atlas Life Sciences Private Limited is one of the leading manufacturers of Active Pharmaceutical Ingredients (API) and Bulk Drugs, with a dominant position in Pregabalin (PG) and 4 other API's and one intermediate (R-CMH for PG).
The acquisition under the first tranche is for a cash consideration of Rs48 crore. The company has acquired 24,30,000 shares so far.

The remaining 6,60,000 shares representing a 22% stake in ALSPL will be acquired in two tranches (3,30,000 shares of ALSPL representing 11 % stake in each tranche) for a consideration determined based on EBITDA prevailing for the period October O 1, 2022 to September 30, 2023, and October 01, 2023, to September 30, 2024, respectively, in terms of the SPA.

Asahi Songwon Colors is currently trading at Rs334.40 up by Rs18.45 or 5.84% from its previous closing of Rs315.95 on the BSE. The scrip has touched intraday high and low of Rs340 and Rs319 respectively.

Related Tags

  • Asahi Songwon Acquisition
  • Asahi Songwon News
  • Asahi Songwon Share
  • Asahi Songwon Share Price
  • Asahi Songwon Stock
  • Asahi Songwon Updates
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.

closeIcon

Get better recommendations & make better investments

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp