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  • Ipca Labs buys 13.09...

Ipca Labs buys 13.09 percent stake in Trophic Wellness for Rs 21.20 crore

Ruchika SharmaWritten by Ruchika Sharma Published On 2021-06-13T10:30:00+05:30  |  Updated On 13 Jun 2021 10:30 AM IST
Ipca Labs buys 13.09 percent stake in Trophic Wellness for Rs 21.20 crore
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New Delhi: Drug firm Ipca Laboratories on Friday said it has acquired an additional 13.09 per cent stake in Trophic Wellness Pvt Ltd for a cash consideration of Rs 21.20 crore, making it a subsidiary of the company.

The company has acquired further 13.09 per cent of the equity share capital of Trophic Wellness Pvt Ltd.
The company now holds 52.35 per cent of the paid-up equity share capital of Trophic Wellness Pvt Ltd (TWPL), Ipca Labs said in a regulatory filing.
Read also: Ipca Labs net profit rises 35 percent to Rs 267.56 crore in Q3
"With the acquisition of these further shares, TWPL has now become the company's subsidiary. This will help the company to grow its nutraceuticals portfolio and business," it added.
The acquisition of the shares is for cash consideration of Rs 21.20 crore for 5,30,000 equity shares of TWPL, it added.
Read also: IPCA Labs invests Rs 25 crore In ABCD Technologies




ipca labsipca labs newsipca labs newstrophic wellnesstrophic wellnessacquisitionacquisition
Source : PTI
Ruchika Sharma
Ruchika Sharma

    Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

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