Bharat Parenterals has planned to acquire additional 18,00,000 equity shares of Rs 10 each of Varenyam Biolifesciences, being held by Varenyam Healthcare and as a consideration will issue its 11992 Equity shares on a preferential basis subject to necessary approval.
Pursuant to the proposed acquisition, Varenyam Biolifesciences becomes wholly owned subsidiary (WOS) Company, so that the company will have better control over and run the business in a manner required. The business of the Company is not outside the main line of business of the listed entity. The said acquisition is expected to be completed by June 30, 2024 subject to approval of shareholders.
Bharat Parenterals is engaged in to the business of the Pharmaceuticals & Drugs.
