5

Wockhardt tanks 5% after it sells domestic branded ops to Dr Reddy’s Labs

Shares of Wockhardt slumped as significantly as 5.three for every cent to Rs 347.55 on the BSE on Thursday immediately after Dr Reddy’s Laboratories entered into a definitive agreement with the business to receive decide on divisions of its branded generics business.

“The Board of Administrators have thought of and accredited the transfer of business comprising (a) sixty two products and line extensions along with similar business property and liabilities, contracts, permits, intellectual attributes, personnel, promoting, sales and distribution of the exact same in the Domestic Branded Division in India, Nepal, Bhutan, Sri Lanka and Maldives and (b) production facility in Baddi, Himachal Pradesh, by way of a slump sale to Dr. Reddy’s Laboratories as for every the phrases and conditions specified in the Business Transfer Arrangement,” Wockhardt stated in an exchange filing.

The offer, which could fetch a thought amount of money of Rs 1,850 crore, is predicted to

Read More

YES Bank jumps 5% as lender gets EoIs from JC Flowers, Silver Point

Certainly Financial institution received more than five per cent to Rs 37.twenty on the BSE on Thursday following the lender reported it is in talks with prospective investors, which include J.C. Bouquets and Silver Point Cash, for raising equity money.

In a submitting to the BSE, the loan company reported it experienced received non-binding expressions of desire (EoIs) from quite a few investors which include J.C. Bouquets & Co, Tilden Park Cash Administration, OHA (Uk) LLP (part of Oak Hill Advisors), and Silver Point Cash. Go through THE Firm’s BSE Submitting Below

The lender and its economical advisors are in discussions with these investors on professional phrases. The investments, which include pricing and size of the stake to be obtained, are all issue to regulatory approval, the lender reported.

Certainly Financial institution reported it will delay the announcement of its December quarter (Q3) results due to the ongoing talks with

Read More