Stocks

Suven Pharmaceuticals makes a strong listing

KS Badri Narayanan Chennai | Updated on March 09, 2020 Published on March 09, 2020

Demerged company stock jumps 5%

 

Shares of Suven Pharmaceuticals got listed on the bourses on Monday and locked in the upper circuit. The stock is currently ruling at ₹337.05 as against the listing price of ₹321 on the NSE.

The combined entity last closed at ₹301.45 on January 21.

In January, Suven Life Sciences demerged its CRAMs business.

The record date for demerger was January 22, which means the person had to have Suven Life’s shares in his/her account on that date to become eligible to receive the shares of CRAMs business.

The equity shareholders of the company whose names were recorded on January 22, 2020, would have received one fully paid-up equity share of face value of ₹1 each of SPL (resulting company) for every fully paid up equity share of face value ₹1 each held in Suven Life Sciences (demerged company).

The stock of Suven Life Sciences currently hovering at ₹45.65 on the NSE.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on March 09, 2020
This article is closed for comments.
Please Email the Editor