Pharmaceutical company Ipca Laboratories has acquired an additional 13.09 per cent in Mumbai-based Trophic Wellness Private limited (TWPL), a company into nutritional and wellness products. TWPL now becomes the subsidiary company of Ipca Laboratories, stated the company informed exchange.
IPCA Laboratories informed the exchange, “TWPL is engaged in the business of manufacturing and marketing of several SKUs of Nutraceuticals under the brandname Nutricharge. The company’s manufacturing facility is situated at Sikkim.” The acquisition took place on June 11, 2021.
With this acquisition the company now holds 52.35 per cent of the paid-up equity share capital of TWPL. The cash consideration for this acquisition was Rs 21.20 crores for 5,30,000 equity shares of TWPL acquired.
For the financial year, March 31, 2021, the total income of the company stood at Rs 102.82 crore and profit after tax of the company was at Rs 21.76 crore.
