Ipca Laboratories has acquired 2,35,01,440 fully paid-up equity shares of Rs 2 each, constituting about 33.38% of the paid up equity share capital of Unichem Laboratories, from one of Unichem’s promoter shareholder, at a price Rs 402.25 per equity share for Rs 945.35 crore. This deal was executed through block deal mechanism of National Stock Exchange of India (NSE).
Earlier, the company got approval from the Competition Commission of India (CCI) for a 59.38% stake purchase in listed Unichem Laboratories. The company has already made an open offer to Unichem's shareholders to acquire another 26% of the fully diluted outstanding equity share capital of the company at a price of Rs 440 per share, aggregating to Rs 805.44 crore. The business and products range of the Company and that of Unichem Laboratories, both of whom are in the pharmaceuticals business, complements each others business/product range.
Ipca Laboratories is engaged in manufacturing of active pharmaceutical ingredients and formulations.
| Company Name | CMP |
|---|---|
| Sun Pharma Inds. | 1850.40 |
| Dr. Reddys Lab | 1310.50 |
| Cipla | 1365.25 |
| Zydus Lifesciences | 940.00 |
| Lupin | 2442.35 |
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