By: IPP Bureau
Last updated : August 03, 2021 7:04 pm
With the acquisition of these further shares, TWPL has now become company's subsidiary.
IPCA Laboratories has acquired further 13.09% of the paid-up equity share capital of M/s. Trophic Wellness Private Ltd. (TWPL), a company incorporated under the Companies Act, 1956 and engaged in the business of manufacturing and marketing several SKUs of Neutraceuticals under the brand name "Nutricharge".
With this acquisition of these 13.09% of the equity share capital, the said Trophic Wellness Pvt. Ltd. has become a subsidiary of the Company. The Company now holds 52.35% of the paid-up equity share capital of TWPL.
With the acquisition of these further shares, TWPL has now become company's subsidiary. This will help the company to grow its neutraceuticals portfolio and business.
The acquisition was done through cash consideration of Rs. 21.20 crores for the additional acquisition of 13.09% shareholding of TWPL - 5,30,000 equity shares @ Rs. 400/- per share.