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Aurobindo to acquire remaining 49% stake in GLS Pharma for Rs 225 million
Industry News- Sep 20,24
Aurobindo initially acquired a 51% stake in GLS Pharma from promoters Suresh Pathak and his family on June 17, 2022.
Aurobindo Pharma Ltd announced its decision to acquire the remaining 49% stake in GLS Pharma Ltd for Rs 225 million, making it a wholly-owned subsidiary. The company signed a binding agreement on September 18, 2024, with GLS Pharma and its promoters to purchase 5,90,361 equity shares at Rs 381.12 per share. The acquisition is expected to be finalised by December 31, 2024.
Aurobindo initially acquired a 51% stake in GLS Pharma from promoters Suresh Pathak and his family on June 17, 2022. GLS Pharma specialises in oncology products, including oral and injectable chemotherapy treatments for solid and hematological malignancies.
(Business Standard)
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