Ipca Laboratories Limited on Wednesday acquired 2,35,01,440 shares comprising 33.38 per cent of Unichem Laboratories from one of Unichem's promoters, the company announced through an exchange filing. The company bought the shares at a price of ₹402.23 per share aggregating to ₹945.35 crore.
The Company had received the approval of the Competition Commission of India under The Competition Act, 2002 for this acquisition on July 27,2023 and the company had also made necessary announcements for open offer to the public shareholders of Unichem.
This acquisition is as per the Share Purchase Agreement signed and Public Announcement made on April 24, 2023 and the acquisition of the shares is completed today under block deal mechanism of The National Stock Exchange of India Ltd. (NSE).
Unichem was founded in the year 1944 as a sole proprietorship firm by the late Amrut Mody, a pioneer in the Indian pharmaceuticals business. Unichem Laboratories Limited (Unichem) was incorporated on August 22, 1962 under the Companies Act, 1956.
Unichem is an international, integrated, specialty pharmaceutical Company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in several countries across the globe, major markets being United States of America and Europe.
Unichem’s formulations manufacturing facilities are located at Goa, Ghaziabad (Uttar Pradesh) and Baddi (Himachal Pradesh). The Active Pharmaceutical Ingredients (API) manufacturing facilities are located at Roha (Maharashtra), Pithampur (Madhya Pradesh) and Kolhapur (Maharashtra).