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Vishnu Chemicals acquires Jayansree Pharma in Rs 520 million deal
Industry News- Aug 20,24
Vishnu Chemicals is set to buy 100% of JPPL’s shares within the next three months.
Vishnu Chemicals Limited has announced the acquisition of Jayansree Pharma Private Limited (JPPL) for an enterprise value of Rs 520 million. The company’s board of directors approved the acquisition on August 19, 2024, and a share purchase agreement has been signed with JPPL and its shareholders.
Vishnu Chemicals is set to acquire 100% of JPPL’s shares within the next three months. Established in 2014, JPPL operates in the chemicals industry and reported a turnover of Rs 295.4 million for the financial year 2022-23. The acquisition is aimed at enhancing Vishnu Chemicals' specialty chemicals manufacturing capabilities, with JPPL aligning its operations to fit the strategic goals of its new parent company.
This transaction is not classified as a related party transaction and does not require any government or regulatory approvals. Vishnu Chemicals will finance the acquisition through cash consideration.
(Business Line)
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