DIL has received an approval for the final terms and conditions of the Share Purchase Agreement (SPA) to be executed with Evolvence India Life Sciences Fund LLC (Evolvence) and Fermenta Biotech, the company’s subsidiary (FBL) to acquire 3,830,072 equity shares (face value of Rs 10 each), representing 21.05 % of the issued and paid-up equity share capital of FBL from Evolvence for a consideration of Rs 82.80 crore.
The board of directors at its meeting held on November 24, 2017 had approved for the same. The closing of the transactions contemplated in the SPA shall be completed within 30 days of execution of the SPA.
DIL (earlier known as Duphar-Interfran) is a well-respected public listed company. It has built a stellar reputation for itself in the arenas of pharmaceuticals, biotechnology, environmental solutions and other segments including Entertainment and Health & Wellness.
