Piramal Enterprises Shares Touches New High with New

Acquisition News

Piramal Enterprises share price touched a new 52-week high of Rs 1,854.40 by rising 4 per
cent intraday Wednesday after it announced that it is about to acquire US based company.
The US based wholly owned subsidiary of the Company has entered into an agreement to
acquire 100 per cent stake in Ash Stevens Inc. This is an all cash deal for a total consideration
of US$ 42.95 million which will come with an earn-out consideration of US$ 10 million. This
amount will be payable over the next six months.
The acquisition in question is expected to be completed by the end of August. Ash Stevens
had revenue of US$ 18.3 million in the financial year 2015 for a period of twelve months
ending September 30.
The CEO of Piramal Enterprises Pharma Solutions business said, Vivek Sharma, said that
Ash Stevens will add high potency capabilities to the services that Piramal Enterprises offers
its customers. Ash Stevens is a well-respected name in this field and will allow us to drive
significant synergies.
Currently Piramal Enterprises share price is trading at Rs 1,828.00, 3.19 per cent. The share
price opened at a gap-up of Rs 1,815.00 from a previous closing of Rs 1,771.45. The intraday
low so far has been Rs 1,811.00. The 52 week low of the Company as of today is Rs 804.00
made on 18th September 2015. A total of 61,960 shares of the Company have been traded on
the counter of NSE since this morning. The lower price band of the share is 1,417.20 and the
upper price band is 2,125.70. The face value of the share is 2 and the market cap as of today
is Rs 30568.69 crore.

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Piramal Enterprises is a Dynamic levels recommended Multibagger stock. For the historical
share price movement of the share please visit Piramal Enterprises share price history.

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