Deals23 Mar 2024, 01:19 am
Lupin Ltd. Announces Plans for Slump Sale of Indian Generics Business to Lupin Life Sciences Limited
AI Summary
Lupin Ltd. has announced plans to carve out and sell its trade generics business in India to Lupin Life Sciences Limited (LLSL), a wholly owned subsidiary. The sale, which will be conducted on a going concern basis, is expected to be completed by the end of Q1 FY25. The undertaking to be sold includes revenue of approximately ₹2777 million, 2.5% of the Company's total turnover, and a net worth of about ₹721 million. The consideration for the sale is expected to be ₹1000 - ₹1200 million.
Key Highlights
- Lupin plans to sell generics business in India to Lupin Life Sciences Limited
- Sale to be conducted on a going concern basis
- Expected completion by end of Q1 FY25
- Installed revenue of ₹2777 million, 2.5% of Lupin's total turnover
- Net worth of ₹721 million