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ICICI Direct Report
The Ipca Laboratories Ltd.'s stock has been sub-divided from one existing equity share of Rs 2 each face value into two equity shares of Rs 1 each face value. The record date for the same is January 11, 2022 while the ex-date for the same is today i.e. January 10, 2022.
Consequently, Ipca Lab's share price has dropped to ~Rs 1099/share from ~Rs 2200/share. The company has recently acquired Lyka Labs, which can be value accretive and is likely to benefit Ipca Labs Ltd. to enter into lucrative lyophilised injectables business in India and rest of world markets.
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