Ipca Labs to buy 33 percent stake in Unichem Labs for 1,034 crore

The company is also making an open offer to the public equity shareholders of Unichem to acquire from them upto 26% of the fully diluted outstanding equity share capital at a price@ Rs. 440/- per share, under the relevant provisions of SEBI (Substantial Acquisition of shares and Takeovers) Regulations, 2011.

These transactions are subject to approval of the Competition Commission of India under the Competition Act, 2002 and such other approvals as may be required.

The business and product range of lpca and that of Unichem complements each others business and product range.

Premchand Godha, Promoter and Executive Chairman, lpca Laboratories said, "Unichem has developed an excellent and proven quality track record with a differentiated capability which is highly complementary to lpca's strengths. This acquisition is in line with our stated strategy to enhance our portfolio in our chosen growth markets. We both are well positioned to successfully integrate our product offerings and grow our businesses." 

Dr. Prakash A. Mody, Promoter and Chairman and Managing Director, Unichem Laboratories said, "We are very excited about this transaction and believe that lpca is an ideal partner to take business of Unichem through its next phase of growth. For Unichem, employees and customers have been core to its business and I strongly believe, they will benefit from lpca's expertise in providing competitive and integrated services globally."

Mr. Jayendra Shah, Partner, N A Shah Advisors LLP acted as Advisor to Dr. Prakash A. Mody and Unichem Laboratories Ltd.

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