Asahi Songwon Colors Limited has acquired remaining 6, 60,000 shares i.e. 22% stake in Atlas Life Sciences Private Limited (ALSPL) on March 26, 2024.

Pursuant to said acquisition, the company's shareholding in ALSPL has increased from 78% (pre-acquisition) to 100% (post acquisition) and ALSPL became Wholly Owned Subsidiary (WOS) of the Asahi Songwon Colors.

Asahi Songwon Colors in order to add a new growth lever and to create significant value by leveraging combined capabilities and unlock synergies entered into API and Bulk Drug business. The API business of ALSPL has diversified portfolio of 6+ products with several of them in R&D product pipeline.

ALSPL is one of the leading manufacturers of Active Pharmaceutical Ingredients (API) and Bulk Drugs, with dominantposition in Pregabalin (PG) and 4 other API's and one intermediate (R-CMHfor PG).