Aarti Pharmalabs slumps on debut

Aarti Pharmalabs hit a lower circuit of 5% at Rs 377.15 on listing on the stocks exchanges today post demerger with Aarti Industries.

Aarti Pharmalabs was admitted to dealings on the exchange in the list of 'T' group of securities for 10 calendar days (only delivery buying allowed). It will be shifted to 'B' group from Monday, 13 February 2023.

Aarti Industries separated its speciality chemicals business (to operate under Aarti Industries - AIL) and its pharma business (Aarti Pharmalabs - APL), with 20 October 2022, as the record date for the demerger.

Shareholders received 1 share of Aarti Pharmalabs having face value of Rs 5 each for every 4 equity shares of Aarti Industries having face value of Rs 5 each.

Aarti Pharmalabs is engaged in the development of Active Pharmaceutical Ingredients (API) and New Chemical Entities (NCE), API intermediates, Regulatory Starting Materials (RSM), Basic Starting Materials, Key Building Blocks, and Xanthine Derivatives for use in clinical testing and commercial production. In addition to process R&D, it provides stability studies, scale-up and process optimisation, process validations, and commercial manufacturing.

Meanwhile, shares of Aarti Industries were up 0.96% at Rs 530.35 on the BSE.

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