Investment23 May 2025, 05:51 pm
Lupin Ltd Subsidiary Converts USD 41 Million Loan to Equity in Lupin Oncology Inc., USA
AI Summary
Lupin Ltd announced that its wholly owned subsidiary, Lupin Inc. USA (LI), converted a loan of USD 41 million and outstanding interest of USD 3.3 million to equity in Lupin Oncology Inc., USA (LOI). This conversion made LOI a step-down subsidiary of the company. The transaction is a related party transaction and will be at arm's length. LI holds 81.12% equity stake in LOI, while the company holds 18.75% equity stake. LOI is engaged in the development/co-development and business of various oncology products in the USA.
Key Highlights
- Lupin Inc. USA converted a loan of USD 41 million and outstanding interest of USD 3.3 million to equity in Lupin Oncology Inc., USA
- LOI became a step-down subsidiary of Lupin Ltd after the conversion
- The transaction is a related party transaction and will be at arm's length
- LI holds 81.12% equity stake in LOI and the company holds 18.75% equity stake
- LOI is engaged in the development/co-development and business of various oncology products in the USA