Ind-Swift Laboratories Limited’s shares were down by 17.26 per cent after the company approved the transfer of its Active Pharmaceutical Ingredients (API) and Contract Research and Manufacturing Services businesses to Synthimed Labs Private Limited. The transaction amounted to a valuation of Rs. 1,650 crore.
Ind-Swift has two manufacturing facilities in Punjab and Jammu, with a combined reactor capacity of approximately 700 KL, serving both regulated and unregulated markets. The API segment holds a market position with a diverse presence spanning the US, Japan, Korea, the EU, Brazil, and India. In FY23, Ind-Swift reported consolidated revenue of Rs. 1,207 crore and consolidated EBITDA of Rs. 256 crore.
The shares were down by 17.26 per cent to Rs. 102.10 at 10.05 a.m. on the BSE.