| According to the media report, these divisions have been put on the block to reduce the firm's debt burden. Wockhardt is expecting a valuation between Rs 2,400-2,700 crore as the combined valuation for the proposed sale of these segments. Due diligence is being carried out by the suitors and the submission of bids is reportedly expected in the final week of November. The company has attempted various routes in the past to raise funds and this is a fresh construct involving the sale of controlling stake and has attracted considerable interest. Sizeable domestic businesses have always attracted attention from both strategic as well as buyout funds on account of stable growth and lesser regulatory risks, reports added. On the BSE, 3.98 lakh shares were traded in the Wockhardt counter, which is almost four times compared with its average daily volumes of 1.04 lakh shares in the past two weeks. On a consolidated basis, Wockhardt reported a net loss of Rs 94.24 crore in Q2 September 2019 compared with a net loss of Rs 30.84 crore in Q2 September 2018. Net sales fell 28.7% to Rs 802.18 crore in Q2 September 2019 over Q2 September 2018. Wockhardt's businesses include manufacture and marketing of pharmaceutical and bio-pharmaceutical formulations, active pharmaceutical ingredients (APIs) and vaccines. Powered by Capital Market - Live News |