Jubilant Pharmova to sell, transfer API business to wholly owned arm
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Noida: Jubilant Pharmova Limited announced the sale and transfer of its Active Pharmaceutical Ingredients (API) business to its wholly owned subsidiary company, Jubilant Biosys Limited, on a slump sale basis.
The API business will be transferred with effect from September 1, 2025, subject to customary approvals from lenders & Shareholders of the company. The transaction is at arm’s length as there is no change in the economic interest of the shareholders of the company.
The Active Pharmaceutical Ingredients business of the Company achieved a Turnover of Rs. 609 crores, representing 8.35% of the consolidated turnover of the Company for the financial year ended March 31, 2025. The Networth of the Active Pharmaceutical business under transfer is Rs. 666.5 crores which represents 10.68% of the consolidated Networth of the Company as at March 31,2025.
The Purchase consideration to be discharged by transferee company shall be determined based on the book value of assets and liabilities as of appointed date of business transfer basis Rule 11UAE prescribed by the Income Tax Rules’ 1962. The consideration so determined & payable by the transferee entity shall be discharged primarily by issuance of shares as provided in the Business Transfer Agreement.
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