Eiko Lifesciences to Raise Funds, Acquire 51% Stake in SSM Formulations for Rs. 18 Crores

Eiko Lifesciences Ltd. has announced its intention to raise funds by issuing warrants and equity shares on a preferential basis. The company plans to acquire 51% equity shares of SSM Formulations Private Limited, a company operating in the pharmaceuticals business, for a total consideration of INR 18,00,00,000. This strategic move aims to diversify the product portfolio, capture higher value across the pharmaceutical supply chain, and expand the existing API portfolio. The acquisition does not involve any related party transactions and does not require any governmental or regulatory approvals. The transaction is expected to generate operational synergies and economies of scale.