Ambalal Sarabhai Enterprises has disclosed that the company has acquired 100% paid up capital of Suvik Hi-tek.

The source close to the company stated that through the proposed deal, Suvik Hi-tek (P) will now become Ambalal Sarabhai`s  wholly owned subsidiary.  
 
Gandhinagar based Suvik Hi-tek is a small scale industry, that participates in the business of manufacture and marketing of pharmaceutical formulations.
 
The major activity of Ambalal Sarabhai Enterprises (ASEL) is to make drugs and pharmaceuticals, industrial chemicals, detergents, toiletries, electronics, engineering products, paper, glass and plastic containers and packaging materials. The conglomerate also participates in industrial research and consultancy services.
 
According to the sources, ASEL is not only country’s largest maker of vitamin C, but it is also the market leader in veterinary healthcare sector.

Stock of Ambalal Sarabhai Enterprise closed at Rs 14, down 3.01 percent on Bombay Stock Exchange. The total volume of shares traded was 11,232 at the BSE.