Divestment30 Apr 2026, 06:41 pm
Indoco Remedies sells ophthalmic business for ₹110 Cr
AI Summary
Indoco Remedies Ltd has approved the transfer of its ophthalmic business (Ophthalmic Division) to Sunways (India) Private Limited via a slump sale. The transaction covers territories in India and several African countries. The consideration for the sale is ₹110 Crores, subject to adjustments. For the financial year ended March 31, 2025, the Ophthalmic Division contributed ₹47.79 Crores to the company's standalone revenue, representing 3.2% of total continuing operations revenue. The buyer, Sunways (India) Private Limited, reported standalone revenue of ₹137.42 Crores for FY25 and is not a related party. The transaction is expected to be completed in approximately three months, subject to fulfillment of conditions precedent.
Key Highlights
- Indoco Remedies approved the slump sale of its ophthalmic business division.
- The sale consideration for the business is ₹110 Crores.
- The ophthalmic division contributed 3.2% (₹47.79 Cr) to FY25 standalone revenue.
- Sunways (India) Private Limited is the buyer; the transaction is not related party.
- The divestment is expected to conclude within approximately three months.