Indrayani Biotech’s wholly owned subsidiary -- IBL Healthcare has invested in Kniss Laboratories by subscribing to 54,68,934 Equity shares of the Company of face value of Rs 10 each on preferential allotment/private placement basis in two tranches. Thus, Kniss Laboratories becomes subsidiary to the company’s wholly owned subsidiary, IBL Healthcare. Cost of acquisition is Rs 5.47 crore.
Indrayani Biotech is a company belonging to food sector. They are a part-finance its project to produce cut flowers, strawberries, tissue culture plantlets and hybrid vegetable seeds. The company also markets and distributes hybrid vegetable seeds manufactured by Hoechst India. It plans to produce these seeds for Hoechst in due course of time.
