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Camlin Fine Sciences rallied 4.58% to Rs 172.55 after the company said it will purchase 69.33% in AlgalR NutraPharms.On 15 May 2021, a special committee of the board of Camlin Fine Sciences approved strategic investment in AlgalR NutraPharms (AlgalR) by way of acquisition of equity shares amounting to 69.33% of the existing paid‐up share capital. The committee has also approved subscription to the equity shares of AlgalR. Upon consummation of the secondary purchase and primary subscription, the company will hold 80% of the paid‐up capital of AlgalR on a fully diluted basis. The company will now be executing the investment agreement, share purchase agreement and the incidental agreements/documents with AlgalR and its promoters/other shareholders.

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