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Article: India: Kerala Ayurveda And Coimbatore Arya Vaidya Pharmacy To Merge.
- Article from:
- TendersInfo
- Article date:
- July 1, 2009
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Byline: Mamta03
Indian Ayurveda is turning a sexy business for dealmakers. The business is set for a major consolidation as two major players, Kerala Ayuveda Ltd (KAL) and Arya Vaidya Pharmacy (AVP), are combining to form arguably the world's biggest ayurveda firm. The Coimbatore-based AVP, the larger of the two, is a privately held firm while KAL is a listed firm in which serial entrepreneur Ramesh Vangal, the former head of Seagram and PepsiCo in India, holds more than 61% stake.
Following the deal buzz, KAL closed at Rs 42.40 on Monday, up by 4.95%, with a market capitalisation of nearly Rs 45 crore. The board of Kerala Ayurveda has "approved the ...