Ipca Laboratories to acquire 33% stake in Unichem for 1,034 crore

Ipca Laboratories said on Monday that its board of directors has agreed to acquire 33.38 per cent of the paid-up share capital of Unichem Laboratories for Rs 1,034 crore from one of its promoter shareholder.

Ipca acquires the stake at Rs 440 per share. The company added that the acquisition is subject to fulfillment of the terms and conditions in accordance with the share purchase agreement, and legal approvals from the Competition Commission of India.

In addition, the company’s board of directors has given the go-ahead for an open offer to the public shareholders of Unichem Laboratories in order to purchase up to 26 percent of the company’s fully diluted outstanding share capital for a price. 440 per share totaling Rs. 805.44 crore.

First published: April 24, 2023 | 11:01 p.m ist