Intimation under Regulation 30 of SEBI Listing Regulations - Further Investment in Saraswat Co-operative Bank Limited is attached herewith.
GUFICBIO · price
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Gufic Biosciences has approved subscribing to 57,50,800 equity shares of Saraswat Co-operative Bank Limited for Rs. 5.75 crore (Rs. 10 per share). This increases the company's holding from 7,500 shares to 57,58,300 shares. Saraswat is a Scheduled Bank incorporated in 1918, with total income of Rs. 5,064.53 crore and networth of Rs. 5,484.91 crore as of March 31, 2025. The investment is intended to strengthen the existing banking relationship and credit facilities the company uses for its operations, while also serving as part of treasury management strategy with potential for long-term appreciation and dividend income. The acquisition is via cash consideration and expected to complete within four months. It is not a related party transaction.
This is a relatively small treasury investment (~Rs. 5.75 crore) to deepen a banking relationship rather than a strategic acquisition. Likely neutral to modestly positive for Gufic Biosciences stock as it strengthens a financial partnership without materially impacting core pharma business.