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The shares have a face value of Re 1 each and will be priced at Rs 300 per share, totaling Rs 99.99 crore. The relevant date for determining the issue price is 30 August 2023.
Following the subscription, Motilal Oswal Financial Services will hold approximately 3.32% of the total shareholding post-preferential allotment. Prior to the allotment, Motilal Oswal's shareholding was nil.
Motilal Oswal Financial Services stated that the acquisition aligns with their long-term financial investment strategy as part of their Fund Based Investments approach.
Gufic Biosciences is a pharmaceutical company engaged in research and development, manufacturing, marketing, distribution, and sale of pharmaceutical and herbal products. Its products include a wide range of Active Pharmaceutical Ingredients (APIs). Gufic is a leading manufacturer of Lyophilized injections, boasting a fully automated lyophilization plant. Its products cover various therapeutic areas such as antibiotics, antifungals, cardiac, infertility, antiviral, and proton-pump inhibitors. Gufic holds multiple regulatory approvals, including WHO-GMP, EU GMP, ANVISA Brazil, Russian GMP, Health Canada, Ukraine GMP, Australia TGA, Colombia INVIMA, and Uganda NDA. It has a production capacity of 48 million lyophilized vials annually.
Net profit of Gufic Biosciences declined 2.04% to Rs 20.62 crore while net sales rose 17.99% to Rs 195.02 crore in Q1 June 2023 over Q1 June 2022.
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