Laurus Labs Limited agreed to acquire an additional 14.54% stake in Laurus Bio Private Limited from one of the Promoters, non-executive director, his family members and few Employee/ex-Employee shareholders for approximately INR 720 million.

Laurus Labs Limited (NSEI:LAURUSLABS) agreed to acquire an additional 14.54% stake in Laurus Bio Private Limited from one of the Promoters, non-executive director, his family members and few Employee/ex-Employee shareholders for approximately INR 720 million on September 11, 2023. Pursuant to the above acquisition, the stake of Laurus Labs in Laurus Bio shall reach to 87.58% on fully diluted basis (including outstanding ESOPs and the Share Warrants). Laurus Bio has revenue of INR 1,286.26 million, EBITDA of INR 369 million, total assets of INR 1,982.54 million, Total equity of INR 481.64 million and net income of INR 141.9 million as of March 31, 2023.

The Board of Directors of Laurus Labs have accorded its final approval for acquisition. As of October 16, 2023 Laurus Labs Limited has completed the acquisition of 29,308 equity shares from Subramani Ramachandrappa. Balance equity shares shall be acquired soon once the Conditions Precedents with respect to these balance shareholders are complied with.