Ipca Laboratories has acquired 26.574% of the paid-up share capital of Lyka Labs and has entered into a Joint Management Control Agreement with the Promoters of Lyka Labs. The cost of acquisition is Rs 97.89 crore. The Board of Directors of the Company at their meeting held on November 24, 2021 has approved the same. 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.
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.
Ipca Laboratories is engaged in manufacturing of active pharmaceutical ingredients and formulations. It operates in many countries and its export accounts for around half of the company’s income. Worldwide the company is one of the largest suppliers of APIs and intermediates.
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