Laurus Labs has invested Rs 39.99 crore in its subsidiary -- Laurus Bio through acquisition of 15,414 Series A2 Compulsorily Convertible Preference Shares of Laurus Bio at face value of Rs 100 and premium of Rs 25,850.02 by way of Private Placement cum Preferential Allotment basis.
Earlier, company’s board had approved the approved for investment of an amount Rs 40 crore in Laurus Bio.
Laurus Labs is a leading research and development driven pharmaceutical company in India. The company has grown consistently to become one of the leading manufacturers of APIs for anti-retroviral (ARV) and Hepatitis C. It also manufactures APIs in oncology and other therapeutic areas.
