News | November 24, 2021
Ipca Laboratories acquires 26 % stake in Lyka Labs, makes open offer
For the six months ended September 30, 2021, Lyka had reported revenues of Rs 109.87 crore
For the six months ended September 30, 2021, Lyka had reported revenues of Rs 109.87 crore
The industry is at an inflection point and it awaits mega investments, the right government policies, and the creation of a strong ecosystem to propel innovation
The combined entity will have 12 hospitals with 3,666 beds
Key takeaways of recent quarter & conference call highlights
The company operates four mid-sized hospitals with a total bed capacity of 556 in eastern India
The revised deal involves a cash consideration only as against the earlier proposal of cash and equity
Equity raise to finance growth and investments in the biological space
Since its inception, the company has either acquired or taken a majority stake in five companies
Its store network grew from 144 stores in March 2019 to 236 stores. It has a presence in 23 cities across Maharashtra, Goa and Karnataka, employing more than 4,600 people.
The issue will consist of the issuance of fresh equity shares worth up to Rs 331.60 crore and an offer for sale (OFS) of Rs 500 crore by promoters and existing shareholders
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