Shalby’s share price surges 3% on plans to acquire majority stake in Sanar International Hospitals

Shalby witnessed a nearly 3 percent surge in its share price during early trade on January 19, following the company’s announcement of its intention to acquire a majority stake in Sanar International Hospitals, Gurugram (PK Healthcare Private Limited).

While the time of publishing, Shalby was quoted at Rs 312.75, marking an increase of Rs 8.55, or 2.81 percent, on the BSE.

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The company revealed its strategic investment plan in PK Healthcare Pvt Ltd, involving the acquisition of an 87.26 percent equity stake for approximately Rs 102 crore. This acquisition will occur over the next month through a combination of primary infusion and secondary buy-outs, as outlined in the company’s exchange notice.

Situated at the prime location of Golf Course Road, Gurugram, the hospital encompasses a land parcel of 1.27 acres, secured through a long-term lease. The current facility boasts 130 beds, with the potential for expansion to 180 beds through additional capital expenditure, according to the company’s statement.