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Pinfold Overseas acquires 6.42 stake in Morepen Laboratories

Press Trust of India  |  New Delhi 

Pinfold Overseas has acquired 6.42 per cent additional stake in pharmaceutical firm Morepen Laboratories.

The company, which already had 2.14 per cent stake in the pharma firm, purchased additional through an off-market on November 28, 2016.

Pinfold Overseas has acquired around 2,88,97,500 amounting to 6.42 per cent of the total Morepen Laboratories said in a filing to

After the acquisition, the holding of the acquirer has gone up to 8.56 per cent, it added. The acquirer does not belong to the promoter group, Morepen Laboratories said.

The stock of Morepen Laboratories today closed at Rs 23.95 on BSE, up 9.36 per cent from its previous close.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 30 2016. 17:42 IST