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Aurobindo Pharma Acquires Remaining 49% Stake in GLS Pharma

19 September 20242 mins read by Angel One
Aurobindo Pharma will acquire the remaining 49% equity stake in GLS Pharma Limited by signing a definitive agreement.
Aurobindo Pharma Acquires Remaining 49% Stake in GLS Pharma
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Aurobindo Pharma Limited announced on September 18, 2024, that it has entered into a definitive agreement to acquire the remaining 49% equity stake in GLS Pharma Limited (GLS), its subsidiary. The purchase consideration for the 5,90,361 equity shares is ₹22.5 crore, valuing each share at ₹381.12.

With this acquisition, GLS will become a wholly-owned subsidiary of Aurobindo Pharma. The transaction is not considered a related party transaction.

Rationale for the Acquisition

Aurobindo Pharma initially acquired a 51% stake in GLS Pharma in June 2022. This latest acquisition is a strategic move to consolidate its ownership in the company and leverage GLS’s expertise in the oncology market. GLS specialises in manufacturing oral and injectable chemotherapy products for both solid and haematological malignancies, as well as supportive therapies.

About GLS Pharma

GLS Pharma Limited was established in 2004 and commenced manufacturing operations in 2015. The company has demonstrated steady growth, with total sales increasing from ₹25.84 crore in FY 21-22 to ₹36.08 crore in FY 22-23 and ₹32.99 crore in FY 23-24.

About Aurobindo Pharma Limited

Aurobindo Pharma is principally engaged in the manufacturing and marketing of active pharmaceutical ingredients, generic pharmaceuticals and related services.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

 

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