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Ipca Labs acquires 13% stake in Trophic Wellness for Rs 21 crore – ET HealthWorld

(*21*)Ipca Labs acquires 13% stake in Trophic Wellness for Rs 21 croreNew Delhi: Drug agency Ipca Laboratories on Friday stated it has acquired a further 13.09 per cent stake in Trophic Wellness Pvt Ltd for a money consideration of Rs 21.20 crore, making it a subsidiary of the corporate.

The firm has acquired additional 13.09 per cent of the fairness share capital of Trophic Wellness Pvt Ltd.

The firm now holds 52.35 per cent of the paid-up fairness share capital of Trophic Wellness Pvt Ltd (TWPL), Ipca Labs stated in a regulatory submitting.

“With the acquisition of these further shares, TWPL has now become the company’s subsidiary. This will help the company to grow its nutraceuticals portfolio and business,” it added.

The acquisition of the shares is for money consideration of Rs 21.20 crore for 5,30,000 fairness shares of TWPL, it added.

Shares of Ipca Laboratories closed at Rs 2,061.45 per scrip on the BSE, up 1.20 p.c from the earlier shut.

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