The Board of Directors of Aurobindo Pharma Limited on May 27 approved sale and transfer of all shares in its subsidiary, Auro Vaccines Private Limited to another subsidiary, Curateq Biologics Private Limited, the company announced through an exchange filing. This transfer of shares worth Rs 10 lakh is part of verticalization of business operations.
The completion of the sale is estimated in the first quarter of FY 2023-24.
The transaction is being undertaken between the holding company and its wholly owned subsidiary and accordingly there is no impact on a consolidated basis.
Aurobindo Pharma shares
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The shares of Aurobindo Pharma on Friday closed at Rs 616.15, up by 1.84 per cent.
