Evexia Lifecare has received an approval for the acquisition/purchase of 80% stake in Revin Labs, for consideration of Rs 44.80 crore. The Board of Directors of the Company in their board meeting held on April 24, 2024 approved the same. Evexia’s acquisition of a 80% stake in Revin Labs signifies a strategic alignment aimed at capitalizing on synergistic opportunities for business advancement.
The amongst Rs 44.80 crore, 50% amount shall cash consideration and the remaining 50% amount shall be adjusted by issuing equity shares of Evexia Lifecare to the individual shareholders of Revin Labs, subject to requisite approvals.
Evexia Lifecare manufactures edible oil. The company offers cottonseed, groundnut, mustard, soyabean, sunflower, and corn oil, as well as industrial oil.
