Pharma firm Parenteral Drugs India today said its board has approved disinvestment of the company's shares in non-operational subsidiaries.
The board of directors of the company today "considered and approved the disinvestment of equity shares held by the company in its non-operational subsidiary companies i.E. Parentech Healthcare Ltd and Parenteral Surgicals Ltd as the same are loss making companies", Parenteral Drugs India said in a filing to BSE.
The board has also accorded approval to declare the non-working subsidiaries of the company -- Abhay Drugs Ltd, Anjaney Pharmaceuticals Ltd, Parenteral Biotech Ltd and Parenteral Impex Ltd as 'defunct company' as there is no business in them, it added.
Shares of Parenteral Drugs India today closed at Rs 46.15 per scrip on the BSE, up 2.67 per cent from previous close.
