Financial Daily from THE HINDU group of publications
Saturday, Sep 17, 2005
Financial Daily from THE HINDU group of publications Saturday, Sep 17, 2005 |
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Corporate
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Mergers & Acquisitions Alchemist to merge Valiant Healthcare Our Bureau
New Delhi , Sept. 16 ALCHEMIST Ltd, formerly Toubro Infotech and Industries Ltd, has decided to merge the Delhi-based healthcare company, Valiant Healthcare Ltd, with itself. The boards of these companies have approved the proposal and the merger will be by way of stock swap. The details of the stock swap ratio are being worked out. Alchemist has recorded a turnover of Rs 250 crore for the financial year ended June 30, 2005, recording a net profit of Rs 14.6 crore. Valiant Healthcare has 41 branded products, which include calcium supplements, vitamins and drugs for diabetes, hypertensives, arthritis and cancer. The company has also acquired land for setting up a nutraceutical plant in Himachal Pradesh. It will also set up a pharmaceutical manufacturing facility and a research and development centre in the tax-free zone of Uttranchal with investments of over Rs 75 crore.
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