Jubilant Pharmova Limited to acquire stake in Greencure

Jubilant Pharmova Limited has entered into Share Purchase Agreement, and Share Subscription and Shareholders Agreement on April 1, 2022 for acquiring equity and preference shares of SPV Laboratories Private Limited ('Greencure').

The aggregate cost of acquisition is Rs. 8.75 Crore (Rupees Eight Crore Seventy Five Lac only) for acquiring 25.21% stake.

Greencure products have differentiated positioning, combining the best of Ayurveda and German herbal science. The company has obtained multiple international certifications to strengthen their credibility. The market is being driven by a growing shift towards natural products, as well as rise in chronic diseases and growing health awareness. There is also a strong synergy between Jubilant and Greencure with respect to OTC portfolio which can be explored for R&D, online acceleration and offline distribution.

Shares of Jubilant Pharmova Limited was last trading in BSE at Rs. 409.70 as compared to the previous close of Rs. 387.80. The total number of shares traded during the day was 19229 in over 984 trades.

The stock hit an intraday high of Rs. 412.95 and intraday low of 390.90. The net turnover during the day was Rs. 7763699.00.

Source : Equity Bulls

Keywords

JubilantPharmova INE700A01033 StakeAcquisition SPVLaboratories Greencure