Brooks Labs Sells 16.33% Stake in Brooks Steriscience for ₹106.33 Cr

Brooks Laboratories Ltd announced the approval by its Board of Directors for the sale of 51,220 equity shares, representing 16.33% of its holding, in its subsidiary Brooks Steriscience Limited to Steriscience Specialties Private Limited. The transaction, valued at ₹20,760 per share, aggregates to approximately ₹106.33 crore. This partial divestment is part of the company's strategy to monetize its investment and will be used for growth initiatives, including expansion and general corporate purposes. Post-transaction, Brooks Laboratories will retain a 32.67% stake in Brooks Steriscience Limited.