GVK Biosciences has acquired balance 987,500 equity shares constituting 6.12% of voting powers of Inogent Laboratories from Dai-Ichi Karkaria on July 11, 2014, at a consideration aggregating to Rs 8.97 crore.
GVK Biosciences has acquired the shares pursuant to the call option under the joint venture and shareholders agreement among GVK Biosciences, Dai-Ichi Karkaria and Inogent Laboratories, dated October 14, 2005.
Accordingly, the shareholding of the company in Inogent Laboratories after acquisition by GVK Biosciences will be nil and the agreement shall be treated as concluded.
