Stock Market: This NBFC will buy stake in 2 companies, keep an eye on the stock

News Topical, Digital Desk : Authum Investment & Infrastructure Limited, a non-banking financial company included in BSE 500, has given information about the acquisition of stake in two companies after the market closed on Friday. According to the information given by the company, it is going to take a controlling stake in one of these companies. Both these companies are companies related to Ayurveda and health. The company's announcement came after the market closed. In Friday's trading, the stock closed at the level of 2630 with a decline of more than one percent.

What information has the company given?

The company announced on Friday, July 11 that it has signed an agreement to buy stake in Katra Phytochem (India) Private Limited (KPPL) and Kerala Ayurveda Limited (KAL). According to the company, this deal is part of the company's strategic restructuring initiative. Under this agreement, the company will buy 27,00,000 equity shares of KPPL at Rs 171.50 per share and subscribe to 1,15,00,000 additional equity shares, after this transaction it will have a 60.95 percent stake in KPPL, giving it control over the company. KPPL, which is into the manufacture of carotenoids and other nutraceutical products , has recorded a turnover of Rs 138.28 crore and a net worth of Rs 116.50 crore in FY 2024-25. Additionally, the NBFC will acquire 18,00,000 equity shares of Kerala Ayurveda Limited at Rs 558.65 per share, giving it a 14.96 per cent stake in the Ayurvedic wellness company. Kerala Ayurveda Limited has reported a turnover of Rs 122.15 crore and a net worth of Rs 12.89 crore in FY 2024-25. Kerala Ayurveda Limited is engaged in the manufacture and sale of Ayurvedic medicines, providing Ayurvedic treatment services through clinics, hospitals and wellness resorts, and teaching Ayurveda to students worldwide. These deals can be completed in the next three months. The acquisition of a majority stake in KPPL will give the company a new subsidiary.

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