Shalby’s share price surged by 4 percent in early trade on March 13 following the approval by the company’s board to acquire a 100 percent stake in Healers Hospital Private Limited.
As of 9:55 am, the shares were trading at ₹230.80.
In a statement released on March 12, 2024, Shalby announced that its board of directors approved the acquisition of a 100% stake in Healers Hospital Private Limited (HHPL). The acquisition, valued at approximately Rs 104 crore based on due diligence and valuation reports by a registered valuer, will be completed within 30 days. Notably, no governmental or regulatory approvals are required for the acquisition.
Upon completion of the transaction, Healers Hospital will operate as a wholly-owned subsidiary of Shalby.
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Shalby