Marico gains on acquiring Derma Rx through its subsidiary

Marico has acquired aesthetics business of the Singapore based Derma Rx Asia Pacific (Derma Rx), through its wholly owned subsidiary Kaya.

The scrip is currently trading at Rs 102.70, up by 2.15 points or 2.14% from its previous closing of Rs 100.55 on the BSE.

The scrip opened at Rs 102 and has touched a high and low of Rs 104.20 and Rs 102 respectively. So far 14,745 shares were traded on the counter.

The BSE group ‘A’ stock of face value Re 1 has touched a 52 week high of Rs 122.40 on 05-Apr-2010 and a 52 week low of Rs 65 on 26-May-2009.

Last one week high and low of the scrip stood at Rs. 113.95 and Rs 99.75 respectively. The current market cap of the company is Rs 6,288.39 crore.

The promoters holding in the company stood at 63.48% while Institutions and Non-Institutions held 29.03% and 7.49% respectively.

The deal, for an undisclosed consideration, envisages the acquisition by Derma Rx International Aesthetics, a wholly owned subsidiary of Kaya, of the Intellectual Property Rights (IPRs) relating to DermaRx’s business and the shares in wholly owned subsidiaries of Derma Rx Asia Pacific.

The said acquisition provides Kaya access to an advanced range of skin care products and a strong sourcing network, including suppliers of products from developed nations.

The company also plans to introduce, over time, Derma Rx products into its range of offerings, at Kaya clinics in India and the Middle East. This would enable Kaya to increase its share of revenue, from sale of products, from the current level of about 13% to over 20%.

Kaya delivers skin care solutions, in India and overseas, through its range of Kaya Skin Clinics.