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Corporate News
24-Apr-23
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Board of Ipca Laboratories approves acquisition of 33.38% stake in Unichem Laboratories
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Also approves open offer to acquire further 26% stake in Uncihem Laboratories
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The Board of Ipca Laboratories at its meeting held on 24 April 2023 has approved entering into a definitive Share Purchase Agreement (SPA)
for acquisition of 2,35,01,440 fully paid-up equity shares of Rs. 21- each, constituting about 33.38% of the paid up equity share capital of Unichem Laboratories, a listed entity, from one of its promoter shareholder at a price @ Rs. 440/- per equity share aggregating to Rs. 1034.06 crore.
This proposed acquisition is subject to, inter-alia, approval of the Competition Commission of India under the Competition Act, 2002.
The Board has approved making an open offer to the public shareholders of Uncihem Laboratories to acquire from them upto 26% of
the fully diluted outstanding equity share capital of the said company at a price @ Rs. 440/- per share aggregating to Rs.805.44 crore, under the relevant provisions of SEBI (Substantial Acquisition of shares and Takeovers) Regulations, 2011.
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