Aurobindo Pharma to Fully Acquire GLS Pharma Ltd for Rs 22.5 Crore

Aurobindo Pharma Ltd announced its acquisition of the remaining 49% stake in GLS Pharma Ltd for Rs 22.5 crore, converting GLS into a wholly-owned subsidiary. The transaction involves purchasing 5,90,361 equity shares at Rs 381.12 per share and is expected to complete before December 31, 2024.

Aurobindo Pharma Ltd has announced plans to acquire the remaining 49 percent stake in GLS Pharma Ltd, making it a wholly-owned subsidiary.

The deal, valued at Rs 22.5 crore, involves the purchase of 5,90,361 equity shares at Rs 381.12 per share, as per a binding agreement signed on September 18, 2024.

Set for completion before December 31, 2024, this acquisition aims to consolidate ownership of GLS Pharma, which specializes in oncology products like chemotherapy drugs.

(With inputs from agencies.)