The proposed acquisition comprises of 320 Hetero Pharmacy retail stores on a slump sale basis for a consideration not exceeding Rs 146 crore, as approved by the board, the company said in a release.
The pharmacy stores are currently located in the states of Telangana, Andhra Pradesh and Tamil Nadu, the release said.
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The stock opened at Rs 1,127 and touched a high of Rs 1,140 so far. Over 130,000 shares were traded on both the stock exchanges so far.