By: IPP Bureau
Last updated : October 03, 2026 11:42 am
The transaction outlines a subscription where Zydus Lifesciences will purchase 50% of the total paid-up equity share capital of the joint venture
Zydus Lifesciences Limited and Sri Lanka’s Sunshine Healthcare Lanka Limited have officially pushed back the closing timeline for their 50:50 joint venture, Zydus Sunshine Lifesciences (Private) Limited, to December 2026. The deadline extension was formalized through a mutually executed agreement letter on October 1, 2026, as a result of pending conditions precedent outlines in their transaction documents.
The transaction outlines a subscription where Zydus Lifesciences will purchase 50% of the total paid-up equity share capital of the joint venture, amounting to an investment commitment of over US$ 20 million (~Rs. 43 crore). The joint venture company was newly incorporated on May 30, 2026.
The partnership plans to build a state-of-the-art pharmaceutical manufacturing plant covering nearly four acres of land in the Board of Investment (BOI) zone in Horana, Sri Lanka. The formal project began when its foundation stone was laid on June 26, 2026.