Business Update19 Aug 2024, 10:36 pm
Vishnu Chemicals Acquires Jayansree Pharma for INR 51.99 Cr, Expanding Visakhapatnam Presence
AI Summary
Vishnu Chemicals Limited (BSE: 516072, NSE: VISHNU) has announced the 100 percent equity acquisition of Jayansree Pharma Private Limited (JPPL) at an enterprise value of INR 51.99 Cr. The acquisition, approved by Vishnu's Board of Directors, will see JPPL become a wholly-owned subsidiary of Vishnu Chemicals Limited, boosting the Group’s fixed asset by nearly INR 80 Cr. The JPPL plant, based at Visakhapatnam, will manufacture chemicals aligned with the group's operations. Vishnu plans to commission the production of an inorganic chemical, Strontium Carbonate, at this unit. The acquisition is expected to advance Vishnu's product offerings and expand its market presence in Visakhapatnam, Andhra Pradesh.
Key Highlights
- Vishnu Chemicals acquires Jayansree Pharma Private Limited for INR 51.99 Cr.
- Jayansree Pharma to become a wholly-owned subsidiary of Vishnu Chemicals Limited.
- The acquisition will boost Vishnu's fixed asset by nearly INR 80 Cr.
- The JPPL plant will manufacture chemicals aligned with Vishnu's operations.
- Vishnu plans to commission the production of Strontium Carbonate at the JPPL unit.