Share price of Zydus Lifesciences Ltd. advanced in early trade on Tuesday after the company's announced its latest acquisition update. Zydus Lifesciences has entered into an agreement to acquire a controlling stake of 85.6% equity shares of Amplitude Surgical SA, France from the existing shareholders at a price of €6.25 per share, aggregating to a consideration value of €256.8 million, as per an exchange filing on April 11.
The stocks to watch going into trade on Tuesday will be Reliance Industies Ltd., ICICI Bank., Zydus Life., HCL Tech along with a few others. On Tuesday, the earnings of companies like GM Breweries Ltd., ICICI Lombard General Insurance Company Ltd., ICICI Prudential Life Insurance Company Ltd., and Indian Renewable Energy Development Agency Ltd., are set to be announced
Amplitude Surgical is a leading French player in the global market for surgical technologies for lower limb orthopaedics and develops high-end products for orthopaedic surgery, covering the main pathologies affecting the hip and knee.
Zydus Lifesciences Ltd. on Tuesday announced it will acquire French orthopedics company Amplitude Surgical SA for 300 million euros or around Rs 2,851 crore. The board approved a put open agreement, share purchase agreement, and other agreements to acquire 85.6% stake in Amplitude Surgical for 6.25 euros per equity share, aggregating to 256.8 million euros, according to an exchange filing.
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