Carlyle is expected to buy 42 per cent of promoter shares, which will trigger an open offer to acquire additional stake from others, CNBC TV18 reported.
On September 25, 2020, Granules India said that we hereby inform you that we do not confirm or deny the information contained in the aforementioned news article. If and when an event that requires a disclosure as per Sebi provisions, we shall make necessary disclosures in accordance with the SEBI Listing Regulations, it said.
The company had said the above in clarification to a media report.
The company is into active pharmaceutical ingredients (APIs) and contract research and manufacturing (CRAMS).
ICICI Securities maintains ‘buy’ rating on Granules India with target price of Rs 460 per share on strong backward integration remains key strength for company in steep competitive generic market. The brokerage firm said that it likes the company’s clear vision to play on its strength of economies of scale, gradually expand to more complex products/forms to improve margins. Sustained margin expansion is likely to support free cash flow (FCF) generation despite brownfield capex lined up till FY23E, it said.
Subscribe To Insights
Key stories on business-standard.com are available to premium subscribers only.Already a BS Premium subscriber? LOGIN NOW
Opt for auto renewal and save Rs 300
What you get on Business Standard Premium?
- Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
- Pick your 5 favourite companies, get a daily email with all news updates on them.
- Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
- Preferential invites to Business Standard events.
- Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.