The shares of this chemical manufacturer gained up to 2 percent after the company board approved the acquisition of 100 percent share capital of Time Medical International Ventures (India) Pvt Ltd.
With a market capitalization of Rs 20,457.49 Crores, The shares of Fischer Chemic Ltd were trading at Rs 199.70 a share, an increase of 2 percent from the previous closing price of Rs 195.80 a share.
According to the company filing, Fischer Chemic Ltd‘s board of directors approved the acquisition of 100 percent share capital of Time Medical International Ventures (India) Pvt Ltd, and the execution of other necessary documents regarding the proposal transaction.
Additionally, with the consent of the shareholders, up to 4,00,76,260 equity shares of rupees ten each will be issued at a preferential issue price of Rs 10 each to Time Medical International Ventures (India) Private Limited shareholders in exchange for consideration other than cash.
Furthermore, the company has changed its name from Fischer Chemic Limited to Time Medical Digital Health and Imaging Ventures Limited, or any other name that the Central Registration Center Ministry of Corporate Affairs may make available for adoption, pending member and other statutory approvals.
Company revenue stands as of the second quarter at Rs 0.18 on Q2FY24, during the same period net profit is Rs 0.16 crore. The debt-to-equity ratio of the company is Zero.
The company has made the decision to focus on realistic opportunities that are currently on the market by investigating the possibilities that would help make a profit and produce good potential for future growth.
Fischer Chemic Ltd has been engaged in the Manufacturing and Processing of Laboratory Grade Chemicals.
Written by:- Abhishek Singh
