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Ipca Laboratories Ltd has made an open offer to the shareholders of Hyderabad-based Krebs Biochemicals and Industries Ltd (KBIL).
As per the BSE notification, Mumbai-based formulates and API maker Ipca will acquire about 35.73 lakh shares of Krebs (of the face value of Rs 10 each) at a price of Rs 54 per share.
Established in 1991, KBIL has two manufacturing plants in Visakhapatnam and Nellore. It has expertise and infrastructure in the areas of chemical synthesis, fermentation and enzymatic technologies. It undertakes contract manufacturing.
Krebs scrip is trading at Rs 124, up 0.16 per cent on the Bombay Stock Exchange on Tuesday.
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