Multibagger Penny Stock Under Rs 30 Hit Upper Circuit After Approving Acquisition of Biohygea Global Pvt Ltd for Business Expansion into Healthcare Sector
The stock gave multibagger returns of 380 per cent in 3 years and a whopping 1,580 per cent in 5 years.
PVP Ventures Limited has taken a significant step towards expanding its operations in the healthcare sector. The company's board of directors has approved a proposal to acquire a substantial stake in Biohygea Global Private Limited, a Chennai-based healthcare venture. This strategic acquisition aims to broaden the company's footprint in the healthcare industry. To facilitate this transaction, a Share Purchase cum Shareholders Agreement, outlining the terms and conditions, has been approved by the board.
The target entity, Biohygea Global Private Limited, is a healthcare company. It's important to note that this acquisition does not fall under the category of related party transactions, and neither the promoters nor the promoter group of PVP Ventures Limited have any existing interest, direct or indirect, in the target entity. The primary objective of this acquisition is to enter the healthcare sector, thereby diversifying the company's business operations. As this transaction does not require any governmental or regulatory approvals, the company aims to complete the acquisition within the next 120 days. The acquisition will be carried out through a cash consideration of Rs 7 crore, resulting in a 52 per cent stake in Biohygea Global Private Limited post-acquisition.
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About PVP Ventures Ltd. PVP Ventures Ltd, is a company with a legacy realty asset in Chennai, India. By leveraging this asset, as well as tapping into the group’s resources, the firm is embarking upon its journey in the domestic Technology-enabled Healthcare Services market. This is being done with the view to creating long-term shareholder value. With the most recently announced endeavours in both segments i.e., realty and healthcare services, the company hopes to create sustainable value enhancement for its stakeholders.
On Friday, shares of PVP Ventures Ltd hit a 2 per cent upper circuit to Rs 26.31 per share from its previous closing of Rs 25.80. The stock’s 52-week high is Rs 43.20 while its 52-week low is Rs 12.51. The company has a market cap of Rs 685 crore. The stock gave multibagger returns of 380 per cent in 3 years and a whopping 1,580 per cent in 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.