Astal Laboratories to Acquire Sriven Pharmachem India for Rs. 277 Crore via Share Swap

Astal Laboratories Ltd. has announced the approval of a Share Purchase Agreement with the shareholders of Sriven Pharmachem India Private Limited. The acquisition, valued at approximately Rs. 277 crore, will be through a share swap at a ratio of 1:1. Sriven Pharmachem India is engaged in developing and producing specified high profile drug intermediates and specialty chemicals, with a turnover of Rs. 1,027 crore for the financial year April-March 2025. The acquisition is strategic and is expected to expand Astal Laboratories' product offerings, aligning with its long-term vision of becoming a fully integrated pharmaceutical manufacturing company. The acquisition is expected to be completed within 15 days from the approval of members of the company or receipt of in-principle approval from the stock exchange, whichever is later.