Sanofi India Limited agreed to Spin-Off 39.6% stake in Consumer healthcare business of Sanofi India on May 10, 2023. As per the terms, Shareholders of Sanofi India Limited will get 1 share each for each share they held in the company. The turnover of the consumer healthcare business for the period ended December 31, 2022, was INR 7.28 billion.

The Resulting Company is proposed to be listed on BSE Limited and the National Stock Exchange of India Limited in accordance with SEBI regulations and circulars. The separated business will be a fully-owned subsidiary of the company. The demerged company will be named as Sanofi Consumer Healthcare India Limited.

The Board of Directors of Sanofi India Limited (BSE:500674) has approved the transaction. The Scheme is subject to the receipt of approval of shareholders, approvals from the respective jurisdictional Hon’ble National Company Law Tribunal, the Securities and Exchange Board of India, BSE Limited and the National Stock Exchange of India Limited and such other approvals, permissions, and sanctions of regulatory and other authorities as may be necessary. BofA Securities, Inc. acted as financial advisor for Sanofi India Limited.