Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI LODR Regulations’), Ipca Laboratories has informed about the outcome of the meeting of the Board of Directors of the Company held today, November 24, 2021. The Board has approved the acquisition of 26.574% of the paid-up share capital of Lyka Labs and entering into a Joint Management Control Agreement with the Promoters of the said company. Lyka Labs is a company incorporated in the year 1976 under Companies Act, 1956 and is engaged in the business of manufacturing and marketing of injectables, lyophilized injectables and topical formulations. Consequent to this acquisition of shares, the Company has also, made a public announcement to acquire 26% additional equity shares of the said company from its public shareholders under the SEBI (SAST) Regulations, 2011. The required disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is enclosed.The Board Meeting started 8.15 am and concluded at 8.35 am.
The above information is a part of company’s filings submitted to BSE.
