/ Rallis India Divests From Advinus, Stock Slips ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Friday, 21 July 2017

Rallis India slipped 1.3% at Rs 238.80 per share on BSE as the company on Thursday along with the shareholders of Advinus Therapeutics Ltd has decided to demonetize its investments in Advinus.

The sale of contract research business for which the company has signed an agreement for the disinvestment of its shares in Advinus to Eurofins Pharma Services Lux Holdings SARL.

The consideration amount for the disinvestment stood at 17.32 crore.

As a part of the above transaction, the drug discovery business of Advinus is being transferred to Impetis Biosciences Ltd. The company will acquire the share s for a consideration of nearly Rs 3.5 crore. The stock on NSE attracted a traded volume of 1,72,011shares and a traded value of Rs 410.09 lakh.

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