Jagsonpal Pharmaceuticals to sell Faridabad facility to Regalia Laminates for Rs 41 cr

Jagsonpal Pharmaceuticals Ltd on Thursday said it will sell its Faridabad facility to Regalia Laminates LLP for a consideration of Rs 41 crore.

The company had in November last year announced plans to divest the Faridabad unit.

''We now wish to inform you that the company has entered into an agreement to divest the said facility,'' Jagsonpal Pharmaceuticals said in a regulatory filing.

It is being sold to Regalia Laminates LLP and the sale is expected to be completed on or before October 31, 2024, the company said.

The consideration proposed to be received from the sale is Rs 41 crore, the filing said.

The facility was not operational and did not contribute any revenue in the last year, it added.

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