Medak, Andhra Pradesh-based Pharma company Gennex Laboratories today said it will make an offer to buy majority stake in Secunderabad-based bio-fuel company Ammana Bio Pharma.
''The board of directors has unanimously decided to make an offer for purchase of 51 per cent stake in Ammana Bio Pharma and authorised the managing director of the company to enter into necessary shareholders agreement with them for acquisition of said stake,'' Gennex said in a notice to BSE today.
Gennex shares were trading at Rs 47, nearly 1.3 per cent higher than Tuesday's close.
