Serum Institute ups stake in Orchid

Serum Institute of India has beefed up its stake in Orchid Chemicals and Pharmaceuticals by acquiring five lakh shares for a total consideration of Rs.6.60 crore.

The share purchase was done through open market operations.

Serum bought these shares at Rs.132.14 per share in a bulk deal on Tuesday, according to a filing by the company with the National Stock Exchange.

As on September 30, 2011 Serum held 25.29 lakh shares or 3.59 per cent stake in Orchid. “Serum has been a supportive investor in Orchid since 2008.

They are quite convinced about the growth plans of Orchid,” a spokesperson of Orchid told The Hindu.

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Printable version | Nov 25, 2021 5:56:36 AM |

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