Alembic Pharmaceuticals Establishes New Subsidiary in the Philippines
Alembic Pharmaceuticals Limited has announced the incorporation of a new subsidiary, Alembic Lifesciences Philippines Inc., in the Philippines. This move marks the company’s expansion efforts into the new geographical market.The establishment of the subsidiary, Alembic Lifesciences Philippines Inc., places the company within the Pharmaceuticals industry. The primary object of the new entity is to explore new business opportunities within the Philippines to promote, sell, and distribute the company’s pharmaceutical products.
The new subsidiary has a defined share capital of Philippine Pesos 12,000,000.00 (Philippine Pesos Twelve Million Only), divided into 1,200,000 shares, each valued at Philippine Pesos 10. The subsidiary currently reports a turnover of Nil, as it is yet to commence business operations.
Alembic Pharmaceuticals Limited will hold a controlling stake in the new venture, possessing 99.99% of the shareholding in Alembic Lifesciences Philippines Inc.
Key details regarding the subsidiary's structure are outlined below:
| Particulars | Details |
|---|---|
| Name of Entity | Alembic Lifesciences Philippines Inc. |
| Location | Philippines |
| Industry | Pharmaceuticals |
| Share Capital | Philippine Pesos 12,000,000.00 |
| Shares Issued | 1,200,000 shares (at Philippine Pesos 10 each) |
| Turnover Status | Nil (yet to commence business operations) |
| Company Stake | 99.99% |
| Strategic Object | To promote, sell, and distribute pharmaceuticals products of the Company in the Philippines. |
APLLTD Stock Price Movement
Today, Alembic Pharmaceuticals Limited shares edged higher, closing at ₹764.6, representing a gain of 0.18% for the day. The stock saw solid activity, recording a total traded volume of 30,290 shares during the trading session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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