Ipca Labs buys 13.09 percent stake in Trophic Wellness for Rs 21.20 crore
Source : PTI
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.
"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.