Unichem Laboratories Limited to sell its stake in Optimus

Unichem Laboratories Limited had made a strategic investment in Optrix Laboratories Limited (Optrix) and Optimus Drugs Private Limited (Optimus) both based at Hyderabad, the details of which have been already intimated to the exchanges. Optrix was later merged with Optimus through a scheme of amalgamation. The resultant Company namely Optimus is engaged in the business of researching, developing, manufacturing, marketing, and distributing active pharmaceutical ingredients and intermediates.

Pursuant to the approval of the Board of Directors of the Company at its meeting held on May 10, 2022, the Company, Optimus and Sekhmet Pharmaventures Private Limited (“Purchaser”), will enter into a share purchase agreement whereby the Company proposes to sell its entire shareholding in Optimus to the Purchaser by secondary transfer of shares in two tranches i.e, (i) sale of 19.97% equity shares on a fully diluted basis in the first tranche, for an aggregate consideration of INR 270,98,99,010; and (ii) sale of the remaining 0.02% equity shares in the second tranche for a price to be determined as per the said share purchase agreement after satisfaction of necessary conditions precedent.

Shares of Unichem Laboratories Limited was last trading in BSE at Rs. 248.90 as compared to the previous close of Rs. 255.90. The total number of shares traded during the day was 59644 in over 552 trades.

The stock hit an intraday high of Rs. 255.10 and intraday low of 244.00. The net turnover during the day was Rs. 14985651.00.

Source : Equity Bulls

Keywords

UnichemLaboratories INE351A01035 StakeSale Optimus