Ramesh Vangal may take stake in Kerala Ayurveda

Kerala Ayurveda Pharmacy (KAPL) today announced that Katra Healthcare, a company founded by Ramesh Vangal, will commence an exclusive due diligence on the company.

According to a release issued by KAPL to the BSE today, the due diligence is being undertaken by Katra Healthcare to enable them to consider consolidation of business/infusion of additional capital into the company.

"Katra Healthcare is expected to complete the due diligence in early May, and will make their offer by mid May 2005," the release added.

Katra Healthcare is one of the group companies of the Katra Group, and is a fast growing healthcare organisation based in Banglore.

KAPL was locked at its 20% upper limit at Rs 14.83 on the BSE today, and the counter logged a huge volume of 72,485 shares as against the two-week average of 19,380 shares.