Lasa Supergenerics share price was locked in 5 percent upper circuit on February 27 after the company announced the acquisition of Harishree Aromatics And Chemicals Private Limited.
The stock touched a 52-week high of Rs 47.50.
In addition to the takeover of the manufacturing unit and all assets and liabilities, the amalgamation will result in an increase in market share, product and services diversification, the company said in a press release.
Harishree shareholders will be entitled to 1,000 fully paid-up shares of Lasa for every 35 equity shares held.
"The amalgamation of both the entities stands to extract synergistic benefits, economies of scale, better cash-flow management, optimisation of borrowing costs resulting in better financial and operational efficiencies and better shareholder value,” said Omkar Herlekar, Chairman, Lasa Supergenerics.
At 1139 hours, Lasa Supergenerics was quoting at Rs 47.50, up Rs 2.25, on the BSE.There were pending buy orders of 5,912 shares, with no sellers available.