Dishman Carbogen OFS open
Shares of Dishman Carbogen Amcis eased nearly 2% to trade at Rs 152.15 apiece on NSE, following the promoters decision to sell their stake.
Promoter, Adimans Technologies, proposes to sell 6.9 million shares of the company through offer for sale. The floor price for the offer is at Rs 145.70 rupees per share.
Dishman is the global outsourcing partner for the pharmaceutical industry offering a portfolio of development, scale-up and manufacturing services. The products and services offered span customers’ needs from chemical development to commercial manufacture and supply of active pharmaceutical ingredients.
Dishman reported Q2 FY21 revenue at Rs 4,395 million, down 2.1% YoY and 7% QoQ. The revenue was affected as India contract research and manufacturing services (CRAMs) business did not resume operations and the marketable molecule segment declined by 30% QoQ.
India CRAMS revenue expected to normalize from FY22 onwards as remediation efforts for the Bavla manufacturing facility are in progress.
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