Ind-Swift Laboratories has received approval for slump Sale of the Active Pharmaceuticals Ingredients and CRAMS business (API Business) of the Company on a going concern basis to Synthimed Labs (Buyer), at a total Enterprise Value of Rs 1650 crore subject to working capital and certain other agreed adjustments in accordance with the terms of the Business Transfer Agreement (BTA) which has been executed between the Company and the Buyer. Equity value for this transaction for the company is Rs 850 crore, considering an approximate debt of Rs 800 crore, subject to other adjustments in accordance with the terms of the BTA. The Board of Directors in their meeting held on September 6, 2023, have considered and inter-alia approved the same.
Ind-Swift Laboratories is global manufacturer of Active Pharmaceutical Ingredients (API), Intermediates and formulations (through group collaboration).
