Evexia Lifecare Grows Its Pharmaceutical Activities By Acquiring A 65% Stake In DIPOned Research International

On Wednesday, shares of pharma company Evexia Lifecare Ltd jumped around 7.25 per cent to an intraday high of Rs 3.31 per share from its previous closing of Rs 3.07 per share. The stock's 52-week high is Rs 4.40 and its 52-week low is Rs 1.94. The company has a market cap of over Rs 615.76 crore.

Evexia Lifecare Limited recently entered into a term sheet with DipOned International Private Limited to purchase a 65% interest in the company. This strategic investment would be carried out by a preferential share offer and quasi-capital, which is in line with Evexia's growth strategy to bolster the company's pharmaceutical operations through acquisitions and organic growth. The deal, which is subject to certain conditions and is expected to be concluded within a period of 60 days, enables Evexia to capitalize on Diponed's knowledge in drug discovery, drug development, formulations, contract research services and consequently, market diversification into new areas.

Evexia has not shied away from aggressively making strides in healthcare verticals. Earlier, it made a move towards UAE, by acquiring 51% of a Special Purpose Vehicle (SPV) owning ten medical centers in UAE, with a handsome Rs 190 crores infusion. The move has brought to Evexia's existing portfolio a new set of services in an evolving market. Further, it intends to purchase a 51% stake in Vittal's MediCare which is a diagnostic center in India to complement and support its core business units and offer better service delivery.

On Friday Evexia's shares on the BSE stood at Rs 4.21, which is a growth of 0.96% above Rs 4.17, the close the previous day, with the highest price during the day standing at Rs 4.23 and the lowest at Rs 4.09.

Evexia once again displayed its commitment to its investors by raising an impressive 528 crores of its share price indicating the stock has had consistent growth with multi-bagger returns of 171.6% since the stock was at its 52-week low of 1.55Rs per share. This allotment will be made in accordance with the Companies Act, SEBI regulations, CFA rules, and any other applicable laws.

In the most recent financial report released for the period of August 5th - November 6th, it was disclosed that Evexia launched an offshore G100 programme attempting to raise an astounding $310 million. Shares in low cotton hec have also displayed strong growth. From a peak of Rs 3.4, the company's shares hit Rs 15.6 which translates to a return of over 50%. In this programme, various overseas fund houses, including Acra Capital, own upto 15 crores in warrants. The purpose of these warrants is to augment the price/share through steady growth.

The market capitalization is pegged at Rs 790 crore which indicates that the company is well positioned within the FMCG industry.

Through these strategic shifts and investments, Evexia Lifecare hopes to strengthen its foothold in several industries and locations which will enhance the value to shareholders and promote value creation in the long term.