Gufic Biosciences Approves Further Investment in Saraswat Co-operative Bank Limited
Gufic Biosciences Limited announced that its Board of Directors has approved a substantial further investment into Saraswat Co-operative Bank Limited. The investment involves the subscription of 57,50,800 Equity Shares in the bank.The investment, approved during a Board meeting held on May 29, 2026, amounts to Rs. 5,75,08,000/- (Rupees Five Crores Seventy-Five Lakhs Eight Thousand only). The shares being subscribed have a face value of Rs. 10/- each. The transaction is planned to be completed within four months and will be settled via cash consideration.
The proposed investment underscores an existing banking relationship. The company stated that it regularly utilizes various banking and credit facilities from Saraswat Bank for its operational needs and expansion requirements. The additional equity shares are intended to strengthen this banking relationship, serving also as part of Gufic’s broader investment and treasury management strategy, which may provide potential long-term benefits through dividend income and investment appreciation.
Background of Saraswat Co-operative Bank
Saraswat Co-operative Bank Ltd. is a Scheduled Bank that provides a comprehensive suite of banking and financial services, including retail banking, wholesale banking, and treasury operations. Incorporated in 1918, the bank's activities are governed by the Banking Regulation Act, 1949, and the Multistate Co-operative Societies Act, 2002.Key financial metrics for Saraswat Co-operative Bank Ltd. as of March 31, 2025, are provided below:
| Financial Metric | Value (Rs. in Crores) |
|---|---|
| Total Income | 5064.53 |
| Total Networth | 5484.91 |
Impact on Shareholding
The investment significantly alters Gufic Biosciences Limited’s stake in the bank. Prior to this acquisition, the company held 7,500 Equity shares. Following the subscription of 57,50,800 shares, the total number of Equity shares held is projected to reach 57,58,300.The company confirmed that the acquisition does not constitute a related party transaction, nor do the promoter group or group companies have any existing interest in Saraswat Co-operative Bank Limited regarding this transaction.
GUFICBIO Stock Price Movement
On Friday, Gufic Biosciences Limited shares rallied, closing at ₹333.85 after gaining 1.92% on the pharmaceutical stock. The equity found support during the session, trading on a volume of 267,768 shares and hitting a day high of ₹341.95.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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