Acquisitions9 Jan 2024, 01:29 pm
PHARMAIDS PHARMACEUTICALS LTD. TO ACQUIRE MAJORITY STAKE IN ADITA BIO SYSTEMS PRIVATE LIMITED
AI Summary
The company has executed agreements with shareholders for purchase of shares of Adita Bio Sys Private Limited, and aims to acquire majority stake in the target company through share swap. The acquisition is in furtherance to the intimation given by the company on September 22, 2023, regarding making any investments or acquisition by way of subscription, purchase or otherwise, the securities of other body corporates by the company up to 40,00,00,000/- (Forty Crore Only) over and above the limits available under Section 186 of the Companies Act, 2013.,
Key Highlights
- Acquisition of majority stake in Adita Bio Sys Private Limited
- Share swap as consideration
- Execution of definitive agreements
- Investment beyond limits available under Section 186 of the Companies Act, 2013