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The surge in Alembic Pharma share price came after the company announced that it has received US Food & Drug Administration (USFDA) final approval for Betamethasone Valerate Foam, 0.12 per cent.
The IPO comprises a fresh issue of 41.8 million shares valued at Rs 397.1 crore and an offer for sale (OFS) of 11.9 million shares worth Rs 113.05 crore.
The surge in the share price came after the company announced a strong set of June quarter earnings (Q1FY25)
Last fiscal saw a good run in markets till January, but increasing troubles in India and abroad hereafter are now weighing on sentiment