The shares of Microcap Pharma, Trident Lifeline Ltd slumped 5% on 24 December after receiving approval to acquire a 51% stake in Trident Mediquip. 

The board of the company gave in-principle approval to buy 51% of Trident Mediquip. The company would be able to contribute to increasing its awareness through this acquisition. The duration of this acquisition is around one month. 

In FY24, Trident Mediquip, a company involved in the chemical and pharmaceutical sectors, generated Rs. 20.58 crore in revenue.

The company deals with pharmaceutical formulations under its own brands, contract manufacturing methods, and lending licenses. 

Trident Lifeline Limited was established in 2014. This pharmaceutical company specializes in providing high-quality medications at affordable costs. Their business strategy includes contract production, creating finished dosages under their own brands, and using a loan license structure. 

With a strong global supply chain and a commitment to increasing access to essential medications, they mostly work in developing Asia and Africa. Trident Lifeline hopes to expand the selection of goods it provides over time. 

As of September 2024, the promoter owns 62.99% of Trident Lifeline, followed by the public (30.92%) and foreign institutional investors (FII), who possess roughly 6.09%.

At 2:22 pm, the shares of Trident Lifeline were trading 5.11% lower at Rs 257.90 on NSE.

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